Why Companhia Paranaense de Energia – COPEL (ELP) Stock Could See Much Higher Prices Ahead

Companhia Paranaense de Energia – COPEL (NYSE: ELP) is -21.09% lower on its value in year-to-date trading and has touched a low of $0.84 and a high of $1.44 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ELP stock was last observed hovering at around $1.14 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $1.33 for the next 12 months. It is also 25.83% off the consensus price target high of $1.51 offered by 10 analysts, but current levels are 11.11% higher than the price target low of $1.26 for the same period.

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Currently trading at $1.12, the stock is -6.90% and -4.79% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 11.21 million and changing -1.75% at the moment leaves the stock -4.16% off its SMA200. ELP registered 10.15% gain for a year compared to 6-month loss of 4.67%. The firm has a 50-day simple moving average (SMA 50) of $7.1085 and a 200-day simple moving average (SMA200) of $11.1742.

The stock witnessed a 8.81% gain in the last 1 month and extending the period to 3 months gives it a -17.99%, and is -10.44% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.37% over the week and 5.07% over the month.

Companhia Paranaense de Energia – COPEL (ELP) has around 6667 employees, a market worth around $3.35B and $3.31B in sales. Current P/E ratio is 4.52. Profit margin for the company is 21.00%. Distance from 52-week low is 33.05% and -22.39% from its 52-week high. The company has generated returns on investments over the last 12 months (9.90%).

Companhia Paranaense de Energia – COPEL (ELP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Companhia Paranaense de Energia – COPEL (ELP) is a “Overweight”. 10 analysts offering their recommendations for the stock have an average rating of 3.00, where 7 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Companhia Paranaense de Energia – COPEL is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to grow by 82.50% this year.

Companhia Paranaense de Energia – COPEL (ELP) Top Institutional Holders

123 institutions hold shares in Companhia Paranaense de Energia – COPEL (ELP), with institutional investors hold 24.43% of the company’s shares. The shares outstanding are 2.74B, and float is at 1.22B with Short Float at 5.02%. Institutions hold 24.43% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 111.89 million shares valued at $160.01 million. The investor’s holdings represent 87.22% of the ELP Shares outstanding. As of Dec 30, 2020, the second largest holder is Letko, Brosseau & Associates Inc. with 25.94 million shares valued at $37.1 million to account for 20.22% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 17.68 million shares representing 13.78% and valued at over $25.29 million, while Clark Capital Management Group, Inc. holds 11.61% of the shares totaling 14.9 million with a market value of $21.3 million.

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Companhia Paranaense de Energia – COPEL (ELP): Who are the competitors?

The company’s main competitors (and peers) include Petroleo Brasileiro S.A. – Petrobras (PBR) that is trading 32.44% up over the past 12 months and Empresa Distribuidora y Comercializadora Norte SA ADR (EDN) that is 4.56% higher over the same period. Short interest in the company’s stock has risen 16.1% from the last report on Mar 14, 2021 to stand at a total of 60.96 million short shares sold with a short interest ratio of 5.21.

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