Zacks: Analysts Set $10.00 Price Target for Companhia Paranaense de Energia (COPEL) (ELP)

Companhia Paranaense de Energia (COPEL) (NYSE:ELP) has been given an average broker rating score of 4.00 (Sell) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a sell recommendation.

Analysts have set a 1-year consensus price target of $10.00 for the company, according to Zacks. Zacks has also assigned Companhia Paranaense de Energia (COPEL) an industry rank of 112 out of 265 based on the ratings given to related companies.

A number of equities research analysts recently weighed in on ELP shares. ValuEngine upgraded Companhia Paranaense de Energia (COPEL) from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. BidaskClub cut Companhia Paranaense de Energia (COPEL) from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, HSBC Holdings plc cut Companhia Paranaense de Energia (COPEL) from a “buy” rating to a “hold” rating in a research note on Tuesday.

Several large investors have recently modified their holdings of ELP. Karp Capital Management Corp bought a new stake in shares of Companhia Paranaense de Energia (COPEL) during the first quarter worth $9,061,000. Credit Agricole S A boosted its stake in shares of Companhia Paranaense de Energia (COPEL) by 382.2% in the first quarter. Credit Agricole S A now owns 449,400 shares of the utilities provider’s stock worth $4,633,000 after buying an additional 356,200 shares during the period. Morgan Stanley boosted its stake in shares of Companhia Paranaense de Energia (COPEL) by 380.3% in the first quarter. Morgan Stanley now owns 391,695 shares of the utilities provider’s stock worth $4,038,000 after buying an additional 310,145 shares during the period. Schroder Investment Management Group boosted its stake in shares of Companhia Paranaense de Energia (COPEL) by 9.0% in the first quarter. Schroder Investment Management Group now owns 2,920,592 shares of the utilities provider’s stock worth $29,703,000 after buying an additional 242,300 shares during the period. Finally, Bienville Capital Management LLC boosted its stake in shares of Companhia Paranaense de Energia (COPEL) by 80.2% in the first quarter. Bienville Capital Management LLC now owns 234,536 shares of the utilities provider’s stock worth $2,418,000 after buying an additional 104,360 shares during the period. Hedge funds and other institutional investors own 3.91% of the company’s stock.

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Shares of Companhia Paranaense de Energia (ELP) traded down 2.26% during trading on Friday, reaching $8.23. The company’s stock had a trading volume of 296,257 shares. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 5.70 and a beta of 1.62. Companhia Paranaense de Energia has a one year low of $7.15 and a one year high of $11.94. The company has a 50-day moving average price of $7.93 and a 200-day moving average price of $9.28.

About Companhia Paranaense de Energia (COPEL)

Companhia Paranaense de Energia is engaged in the generation, transmission, distribution and sale of electricity in the Brazilian State of Parana. The Company also provides telecommunications and other services. Its segments are Power generation and transmission (GET), Power distribution and sales (DIS), Telecommunications (TEL), GAS and Holding Company (HOL).

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