Companhia Paranaense de Energia – Copel (NYSE:ELPC) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $10.40 price objective on the stock.

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

Companhia Paranaense de Energia – Copel Stock Up 0.1%

Shares of ELPC opened at $10.11 on Wednesday. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 19.82 and a beta of 0.03. Companhia Paranaense de Energia – Copel has a 12 month low of $5.49 and a 12 month high of $10.63. The company has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $9.05.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.10 earnings per share 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 announced a special dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, January 5th will be issued a dividend of $0.3299 per share. The ex-dividend date is Monday, January 5th. Companhia Paranaense de Energia – Copel’s dividend payout ratio is presently 135.29%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter worth about $426,000. SageGuard Financial Group LLC bought a new position in shares of Companhia Paranaense de Energia – Copel in the fourth quarter worth about $127,000. 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. PDS Planning Inc bought a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $218,000. Finally, CWM LLC increased its holdings in shares of Companhia Paranaense de Energia – Copel by 686.8% in the fourth quarter. CWM LLC now owns 6,373 shares of the company’s stock valued at $61,000 after purchasing an additional 5,563 shares in the last quarter.

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.