ValuEngine Upgrades Companhia Paranaense de Energia (ELP) to “Hold”

ValuEngine upgraded shares of Companhia Paranaense de Energia (NYSE:ELP) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

NYSE:ELP traded down $0.04 on Wednesday, hitting $7.29. The stock had a trading volume of 593,682 shares, compared to its average volume of 588,223. The firm has a market cap of $1.92 billion, a P/E ratio of 5.52 and a beta of 0.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 0.79. Companhia Paranaense de Energia has a 52 week low of $4.70 and a 52 week high of $8.46.

Companhia Paranaense de Energia (NYSE:ELP) last posted its earnings results on Wednesday, August 15th. The utilities provider reported $0.35 earnings per share for the quarter. The company had revenue of $1 billion for the quarter. Companhia Paranaense de Energia had a return on equity of 7.32% and a net margin of 8.03%.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in Companhia Paranaense de Energia by 3.6% in the second quarter. FMR LLC now owns 7,454,971 shares of the utilities provider’s stock worth $41,599,000 after buying an additional 258,844 shares during the last quarter. Letko Brosseau & Associates Inc. grew its position in shares of Companhia Paranaense de Energia by 7.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 5,302,124 shares of the utilities provider’s stock valued at $29,586,000 after purchasing an additional 370,100 shares in the last quarter. United Services Automobile Association grew its position in shares of Companhia Paranaense de Energia by 2,141.4% in the second quarter. United Services Automobile Association now owns 507,691 shares of the utilities provider’s stock valued at $84,800,000 after purchasing an additional 485,040 shares in the last quarter. Aperio Group LLC grew its position in shares of Companhia Paranaense de Energia by 6.5% in the third quarter. Aperio Group LLC now owns 461,435 shares of the utilities provider’s stock valued at $2,432,000 after purchasing an additional 28,004 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Companhia Paranaense de Energia by 1,955.7% in the second quarter. Bank of America Corp DE now owns 390,605 shares of the utilities provider’s stock valued at $2,180,000 after purchasing an additional 371,604 shares in the last quarter. 1.14% of the stock is owned by institutional investors and hedge funds.

Companhia Paranaense de Energia Company Profile

Companhia Paranaense de Energia ? COPEL engages in the generation, transmission, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers primarily in the State of ParanĂ¡, Brazil. As of December 31, 2017, the company operated 17 hydroelectric plants, 12 wind plants, and 1 thermoelectric plant with a total installed capacity of 5,024.0 megawatts; and owned and operated 2,698.3 kilometers of transmission lines and 196,951.2 kilometers of distribution lines.

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