Renaissance Technologies LLC recently announced the acquisition of new stake in Companhia Paranaense de Energia – COPEL (NYSE:ELP). The institutional investor has increased its shareholding in the Utilities company by 23.03% to 2.06 million shares with purchase of 0.39 million shares. This fresh investment now brings its stake to 1.61% valued currently at $23.42 million. In addition, The Vanguard Group, Inc. raised its holdings by 19097.0 to 1.97 million shares. And BlackRock Advisors (UK) Ltd. has lifted its position by 139.75% or 1.02 million shares – to 1.75 million shares.
With over 0.46 million Companhia Paranaense de Energia – COPEL (ELP) shares trading Wednesday and a closing price of $11.34 on the day, the dollar volume was approximately $5.2 million. The shares have shown a negative weekly performance of -2.16% and its price on 07/15/20 gained nearly 1.52%. Currently, there are 273.66M common shares owned by the public and among those 122.97M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for ELP have a consensus price objective of $12.19. The analysts have set the share’s price value over the next 12 months at a high of $13.89 and a low of $10.83 should the stock experience a downside. Incidentally, analysts’ outlook for the Companhia Paranaense de Energia – COPEL stock is 2.50 for the next 12 months. The average price target is 13.76% above its last price level and an upside to the estimated low will see the stock lose -4.71% over that period. But an upside of 18.36% will see the stock hit the forecast high price target while mean target price for the stock is $12.07.
The top 3 mutual fund holders in Companhia Paranaense de Energia – COPEL are Fidelity Inv. Trust – Emerging Ma, iShares II Plc – Global Clean Ene, and iShares Global Clean Energy ETF. Fidelity Inv. Trust – Emerging Ma owns 2.64 million shares of the company’s stock, all valued at over $29.96 million. The company bought an additional 0.41 million shares recently to bring their total holdings to about 2.06% of the shares outstanding. iShares II Plc – Global Clean Ene bought 45441.0 shares to see its total holdings expand to 2.26 million shares valued at over $25.64 million and representing 1.76% of the shares outstanding. iShares Global Clean Energy ETF bought 14560.0 shares to bring its total holdings to over 1.74 million shares at a value of $19.72 million. iShares Global Clean Energy ETF now owns shares totaling to 1.35% of the shares outstanding.
Shares of Companhia Paranaense de Energia – COPEL (NYSE: ELP) opened at $11.32, up $0.15 from a prior closing price of $11.17. However, the script later closed the day at $11.34, up 1.52%. The company’s stock has a 5-day price change of -2.16% and 2.62% over the past three months. ELP shares are trading -33.06% year to date (YTD), with the 12-month market performance down to -14.54% lower. It has a 12-month low price of $8.28 and touched a high of $18.15 over the same period. Currently, 0.46 million shares have been traded, compared to an average intraday trading volume of 646.43K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.08%, -0.56%, and -15.13% respectively.
Institutional ownership of Companhia Paranaense de Energia – COPEL (NYSE: ELP) shares accounts for 24.40% of the company’s 273.66M shares outstanding. Mutual fund holders own 6.40%, while other institutional holders and individual stakeholders account for 9.64% and — respectively.
It has a market capitalization of $3.08B and a beta (3y monthly) value of 0.80. The stock’s trailing 12-month PE ratio is 8.27, while the earnings-per-share (ttm) stands at $1.37. The company has a PEG of 1.33 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.77% over the week and 3.04% over the month.
Analysts forecast that Companhia Paranaense de Energia – COPEL (ELP) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0.37 a year ago. EPS should shrink at an annualized rate of 6.20% over the next five years, compared to 10.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Companhia Paranaense de Energia – COPEL (ELP) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 5 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ELP, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on November 14, 2019, with the firm’s price target at. JP Morgan coverage for the Companhia Paranaense de Energia – COPEL (ELP) stock in a research note released on August 26, 2019 offered a Overweight rating with a price target of. UBS was of a view on May 03, 2019 that the stock is Buy, while Standpoint Research gave the stock Hold rating on May 03, 2019, issuing a price target of. Citigroup on their part issued Neutral rating on March 27, 2018.