Companhia Paranaense de Energia (NYSE:ELP) Downgraded by ValuEngine

Companhia Paranaense de Energia (NYSE:ELP) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Friday, February 2nd.

Shares of Companhia Paranaense de Energia (NYSE ELP) opened at $7.61 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.79 and a current ratio of 0.81. Companhia Paranaense de Energia has a 1 year low of $6.70 and a 1 year high of $11.43. The firm has a market capitalization of $2,071.57, a P/E ratio of 7.69 and a beta of 1.50.

Companhia Paranaense de Energia (NYSE:ELP) last released its quarterly earnings results on Wednesday, November 29th. The utilities provider reported $0.44 earnings per share for the quarter. Companhia Paranaense de Energia had a return on equity of 5.70% and a net margin of 6.46%. The company had revenue of $1.15 billion for the quarter.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Letko Brosseau & Associates Inc. raised its stake in Companhia Paranaense de Energia by 14.5% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 4,461,528 shares of the utilities provider’s stock valued at $34,041,000 after buying an additional 566,339 shares during the last quarter. Gotham Asset Management LLC purchased a new position in Companhia Paranaense de Energia during the fourth quarter valued at $299,000. Millennium Management LLC raised its stake in Companhia Paranaense de Energia by 176.9% during the fourth quarter. Millennium Management LLC now owns 458,041 shares of the utilities provider’s stock valued at $3,495,000 after buying an additional 292,610 shares during the last quarter. Two Sigma Investments LP raised its stake in Companhia Paranaense de Energia by 37.9% during the fourth quarter. Two Sigma Investments LP now owns 253,015 shares of the utilities provider’s stock valued at $1,931,000 after buying an additional 69,569 shares during the last quarter. Finally, Ellington Management Group LLC raised its stake in Companhia Paranaense de Energia by 78.7% during the fourth quarter. Ellington Management Group LLC now owns 37,000 shares of the utilities provider’s stock valued at $282,000 after buying an additional 16,300 shares during the last quarter. Institutional investors own 1.51% of the company’s stock.

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Companhia Paranaense de Energia Company Profile

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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