Companhia Paranaense de Energia – Copel (NYSE:ELPC) Hits New 52-Week High – What’s Next?

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) reached a new 52-week high on Wednesday . The company traded as high as $11.17 and last traded at $10.8840, with a volume of 123340 shares changing hands. The stock had previously closed at $10.61.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. Scotiabank upgraded shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. Wall Street Zen raised shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Saturday, February 7th. Zacks Research raised shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Finally, 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 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

The stock has a market cap of $7.97 billion, a PE ratio of 21.01, a PEG ratio of 3.12 and a beta of 0.02. The company’s 50-day moving average price is $9.75 and its two-hundred day moving average price is $9.30.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its earnings results on Wednesday, December 3rd. The company reported $0.10 EPS for the quarter. The firm had revenue of $1.28 billion during the quarter.

Companhia Paranaense de Energia – Copel Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, January 5th will be given 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 135.29%.

Institutional Trading of Companhia Paranaense de Energia – Copel

A number of hedge funds have recently bought and sold shares of the company. Letko Brosseau & Associates Inc. grew its position 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 last quarter. Goldman Sachs Group Inc. lifted its holdings 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 last quarter. SPX Gestao de Recursos Ltda boosted its stake in shares of Companhia Paranaense de Energia – Copel by 1,194.4% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock valued at $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 valued at $6,214,000 after purchasing an additional 485,063 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter valued at $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.