Brokerages Set $10.00 Target Price for Companhia Paranaense de Energia (ELP)

Shares of Companhia Paranaense de Energia (NYSE:ELP) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation. Companhia Paranaense de Energia’s rating score has improved by 60% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Brokers have set a 12 month consensus price target of $10.00 for the company, according to Zacks. Zacks has also given Companhia Paranaense de Energia an industry rank of 178 out of 265 based on the ratings given to its competitors.

Separately, ValuEngine raised Companhia Paranaense de Energia from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st.

A number of institutional investors have recently made changes to their positions in ELP. Airain ltd bought a new stake in Companhia Paranaense de Energia during the 2nd quarter valued at $320,000. Brandes Investment Partners LP raised its stake in Companhia Paranaense de Energia by 4.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,438,300 shares of the utilities provider’s stock valued at $10,557,000 after acquiring an additional 61,682 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Companhia Paranaense de Energia by 660.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 67,643 shares of the utilities provider’s stock valued at $496,000 after acquiring an additional 58,749 shares in the last quarter. Bienville Capital Management LLC raised its stake in Companhia Paranaense de Energia by 115.9% during the 2nd quarter. Bienville Capital Management LLC now owns 506,284 shares of the utilities provider’s stock valued at $3,732,000 after acquiring an additional 271,748 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Companhia Paranaense de Energia by 50.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 18,449 shares of the utilities provider’s stock valued at $141,000 after acquiring an additional 6,170 shares in the last quarter. 1.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Companhia Paranaense de Energia (NYSE:ELP) traded up $0.16 during trading on Thursday, reaching $6.96. The company’s stock had a trading volume of 338,800 shares, compared to its average volume of 516,297. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.39. The company has a market cap of $1,860.85, a P/E ratio of 6.87 and a beta of 1.52. Companhia Paranaense de Energia has a 52-week low of $6.70 and a 52-week high of $11.43.

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About Companhia Paranaense de Energia

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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