Companhia Paranaense de Energia (COPEL) (ELP) Cut to “Hold” at HSBC Holdings plc

HSBC Holdings plc lowered shares of Companhia Paranaense de Energia (COPEL) (NYSE:ELP) from a buy rating to a hold rating in a report published on Tuesday morning, Marketbeat.com reports.

Several other equities analysts have also commented on the stock. ValuEngine lowered shares of Companhia Paranaense de Energia (COPEL) from a strong-buy rating to a buy rating in a report on Friday, June 9th. BidaskClub lowered shares of Companhia Paranaense de Energia (COPEL) from a buy rating to a hold rating in a report on Thursday, June 22nd.

Companhia Paranaense de Energia (ELP) traded up 5.05% during trading on Tuesday, reaching $8.32. 703,884 shares of the company’s stock were exchanged. Companhia Paranaense de Energia has a 52-week low of $7.15 and a 52-week high of $11.94. The stock’s 50 day moving average price is $8.04 and its 200 day moving average price is $9.23. The firm has a market cap of $2.28 billion, a P/E ratio of 5.77 and a beta of 1.62.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu KCG Holdings LLC purchased a new position in Companhia Paranaense de Energia (COPEL) during the second quarter valued at approximately $130,000. FMR LLC raised its position in Companhia Paranaense de Energia (COPEL) by 20.8% in the second quarter. FMR LLC now owns 5,812,157 shares of the utilities provider’s stock valued at $42,661,000 after buying an additional 1,000,660 shares in the last quarter. Vanguard Group Inc. raised its position in Companhia Paranaense de Energia (COPEL) by 4.0% in the second quarter. Vanguard Group Inc. now owns 2,382,819 shares of the utilities provider’s stock valued at $17,490,000 after buying an additional 91,014 shares in the last quarter. Northern Trust Corp raised its position in Companhia Paranaense de Energia (COPEL) by 32.2% in the second quarter. Northern Trust Corp now owns 101,864 shares of the utilities provider’s stock valued at $748,000 after buying an additional 24,794 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new position in Companhia Paranaense de Energia (COPEL) during the second quarter valued at approximately $135,000. 3.91% of the stock is currently owned by hedge funds and other institutional investors.

Companhia Paranaense de Energia (COPEL) 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).

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