Companhia Paranaense de Energia – Copel (NYSE:ELPC) Sees Large Volume Increase – What’s Next?

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) shares saw strong trading volume on Monday . 942,449 shares were traded during trading, an increase of 232% from the previous session’s volume of 283,973 shares.The stock last traded at $11.47 and had previously closed at $11.41.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ELPC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. The Goldman Sachs Group began coverage on Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price objective on the stock. Wall Street Zen lowered Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a report on Saturday. Scotiabank raised Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research report on Friday, January 9th. Finally, Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Up 0.7%

The firm has a market cap of $8.55 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 3.61 and a beta of -0.11. The stock’s 50-day moving average is $10.88 and its 200-day moving average is $9.91.

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

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of institutional investors have recently added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. increased its stake in Companhia Paranaense de Energia – Copel by 10,965.8% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company’s stock valued at $69,199,000 after acquiring an additional 7,210,646 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Companhia Paranaense de Energia – Copel by 575.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock worth $10,259,000 after acquiring an additional 919,086 shares during the period. SPX Gestao de Recursos Ltda grew its holdings in shares of Companhia Paranaense de Energia – Copel by 1,194.4% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock worth $8,731,000 after purchasing an additional 847,198 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Companhia Paranaense de Energia – Copel by 288.1% during the 4th 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. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $3,935,000.

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.