Wall Street Zen Upgrades Companhia Paranaense de Energia – Copel (NYSE:ELPC) to “Strong-Buy”

Companhia Paranaense de Energia – Copel (NYSE:ELPC) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 21st. The Goldman Sachs Group began coverage on Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price target on the stock. Zacks Research raised Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Finally, Scotiabank upgraded shares of 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 assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

NYSE ELPC opened at $12.37 on Friday. The firm has a 50-day simple moving average of $11.12 and a 200 day simple moving average of $10.02. Companhia Paranaense de Energia – Copel has a twelve month low of $6.13 and a twelve month high of $12.51. The stock has a market cap of $9.20 billion, a PE ratio of 22.48, a PEG ratio of 3.91 and a beta of -0.11.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ELPC. Hennion & Walsh Asset Management Inc. bought a new position in shares of Companhia Paranaense de Energia – Copel in the fourth quarter worth about $921,000. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 12,686 shares during the last quarter. Optiver Holding B.V. increased its holdings in shares of Companhia Paranaense de Energia – Copel by 4.0% in the third quarter. Optiver Holding B.V. now owns 299,739 shares of the company’s stock valued at $2,686,000 after purchasing an additional 11,611 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Companhia Paranaense de Energia – Copel in the fourth quarter valued at approximately $426,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Companhia Paranaense de Energia – Copel in the 4th quarter worth approximately $848,000.

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.