Wall Street Zen Downgrades Companhia Paranaense de Energia – Copel (NYSE:ELPC) to Buy

Companhia Paranaense de Energia – Copel (NYSE:ELPC) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other analysts also recently commented on the company. The Goldman Sachs Group started coverage on Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 28th. They set 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 research note on Friday, January 30th. Scotiabank raised Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

Shares of NYSE ELPC opened at $11.45 on Friday. The firm’s 50 day moving average price is $10.88 and its 200-day moving average price is $9.89. Companhia Paranaense de Energia – Copel has a 52-week low of $6.13 and a 52-week high of $12.00. The company has a market cap of $8.52 billion, a PE ratio of 20.83, a P/E/G ratio of 3.64 and a beta of -0.11.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $4.52 billion.

Institutional Trading of Companhia Paranaense de Energia – Copel

A number of hedge funds have recently bought and sold shares of ELPC. Hsbc Holdings PLC bought a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $1,730,000. Compound Planning Inc. bought a new stake in shares of Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $114,000. Invesco Ltd. bought a new stake in shares of Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $370,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $190,000. Finally, Vident Advisory LLC purchased a new stake in shares of Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $1,089,000.

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.