Companhia Paranaense de Energia – Copel (NYSE:ELPC) Hits New 12-Month High – Here’s Why

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $10.63 and last traded at $10.60, with a volume of 172032 shares changing hands. The stock had previously closed at $10.32.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group began coverage on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 28th. They issued a “buy” rating and a $10.40 target price on the stock. Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 21st. Wall Street Zen raised Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Saturday. Finally, Scotiabank upgraded Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Companhia Paranaense de Energia – Copel has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

The company has a market capitalization of $7.96 billion, a PE ratio of 21.06, a PEG ratio of 3.01 and a beta of 0.02. The company has a 50 day moving average price of $9.67 and a 200 day moving average price of $9.17.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $1.28 billion during the quarter.

Companhia Paranaense de Energia – Copel Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, January 5th will be issued a $0.3299 dividend. The ex-dividend date of this dividend is Monday, January 5th. Companhia Paranaense de Energia – Copel’s payout ratio is currently 135.29%.

Institutional Trading of Companhia Paranaense de Energia – Copel

A number of institutional investors and hedge funds have recently modified their holdings of ELPC. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth approximately $848,000. PFG Investments LLC bought a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter valued at $121,000. SageGuard Financial Group LLC bought a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter valued at $127,000. PDS Planning Inc acquired a new position in Companhia Paranaense de Energia – Copel during the 4th quarter worth $218,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Companhia Paranaense de Energia – Copel by 288.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 653,418 shares of the company’s stock worth $6,214,000 after purchasing an additional 485,063 shares in the last quarter.

Companhia Paranaense de Energia – Copel Company Profile

Companhia Paranaense de Energia – Copel is a Brazilian utility company primarily engaged in the generation, transmission and distribution of electricity. Established in 1954, Copel operates a diversified portfolio of power plants, with a strong emphasis on hydroelectric facilities supplemented by thermal and renewable energy sources. The company’s integrated network spans the entirety of Paraná state, delivering electricity services to residential, commercial and industrial customers through a combination of high-voltage transmission lines and local distribution networks.

In addition to its core power business, Copel has expanded into telecommunications through its Copel Telecom subsidiary.