Companhia Paranaense de Energia – Copel (NYSE:ELPC) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) in a research report report published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $10.40 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 21st. Scotiabank raised Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

Shares of NYSE:ELPC opened at $10.38 on Wednesday. The business has a fifty day moving average price of $9.61 and a 200-day moving average price of $9.03. The company has a market capitalization of $7.72 billion, a PE ratio of 20.35 and a beta of 0.03. Companhia Paranaense de Energia – Copel has a 1-year low of $5.49 and a 1-year high of $10.63.

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

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, July 10th. Investors of record on Monday, January 5th will be issued a $0.3299 dividend. The ex-dividend date of this dividend is Monday, January 5th. Companhia Paranaense de Energia – Copel’s payout ratio is presently 135.29%.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of large investors have recently made changes to their positions in the company. SageGuard Financial Group LLC purchased a new stake in shares of Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $127,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $848,000. PDS Planning Inc bought a new position in Companhia Paranaense de Energia – Copel in the fourth quarter worth approximately $218,000. CWM LLC boosted its stake in shares of Companhia Paranaense de Energia – Copel by 686.8% during the 4th quarter. CWM LLC now owns 6,373 shares of the company’s stock worth $61,000 after acquiring an additional 5,563 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth $121,000.

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.