The Goldman Sachs Group Begins Coverage on Companhia Paranaense de Energia – Copel (NYSE:ELPC)

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $10.40 price target on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 2.85% from the stock’s previous close.

ELPC has been the subject of a number of other reports. Scotiabank upgraded shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

ELPC opened at $10.11 on Wednesday. The stock’s fifty day moving average is $9.62 and its 200-day moving average is $9.04. Companhia Paranaense de Energia – Copel has a one year low of $5.49 and a one year high of $10.63. The company has a market capitalization of $7.53 billion, a PE ratio of 19.83 and a beta of 0.03.

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

Institutional Trading of Companhia Paranaense de Energia – Copel

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the second quarter valued at $28,000. Optiver Holding B.V. grew its holdings in shares of Companhia Paranaense de Energia – Copel by 4.0% during the third quarter. Optiver Holding B.V. now owns 299,739 shares of the company’s stock valued at $2,686,000 after buying an additional 11,611 shares in the last quarter. GAMMA Investing LLC raised its position in Companhia Paranaense de Energia – Copel by 35,238.9% during the fourth quarter. GAMMA Investing LLC now owns 12,722 shares of the company’s stock valued at $121,000 after buying an additional 12,686 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Companhia Paranaense de Energia – Copel in the 4th quarter worth about $921,000. Finally, Blue Trust Inc. boosted its position in Companhia Paranaense de Energia – Copel by 2,635.1% during the 4th quarter. Blue Trust Inc. now owns 48,055 shares of the company’s stock worth $457,000 after acquiring an additional 46,298 shares during the period.

About Companhia Paranaense de Energia – Copel

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.