Companhia Paranaense de Energia – COPEL [ELP] moved down -1.11: Why It’s Important

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Companhia Paranaense de Energia – COPEL [NYSE: ELP] price plunged by -1.11 percent to reach at -$0.06. The company report on November 11, 2021 that Copel reports EBITDA of R$4.5 billion in 3Q21.

Copel’s EBITDA, encompassing all factors, including non-recurring and discontinued operations, reached R$4,492.4 million, an increase of 274.8% compared to the R$1,198.6 million recorded in 3Q20. A significant part of this result reflects the positive effect caused by the gain on the divestment of Copel Telecomunicações, with an impact of R$1,723.9 million, and by the renegotiation of the hydrological risk (GSF), in the amount of R$1,570.5 million. Adjusted EBITDA, excluding non-recurring items, reached R$1,286.7 million in 3Q21, 3.8% higher than the R$1,240.1 million recorded in 3Q20. This growth is mainly due to (i) the sale of the 641 GWh of energy produced by UTE Araucária (“UEGA”), (ii) the 8.3% growth in the wire market and the readjustment implemented after the 5th cycle of Copel Distribuição’s tariff review, (iii) the increase in remuneration on transmission assets due to inflation, the greater asset base due to the RBSE reprofiling and new projects in operation, and (iv) the higher volume of energy sold in contracts bilateral and for free consumers by Copel Mercado Livre. These events were partially offset, mainly, by the 125.5% increase in the cost of electricity purchased for resale due to the water deficit in the period (average GSF of 51.1% in 3Q21 against 66.0% in 3Q20 and average PLD of R$581.7/MWh in 3Q21 against R$91.68/MWh in 3Q20).


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The complete release is available at the Company’s website: ir.copel.com.

A sum of 819885 shares traded at recent session while its average daily volume was at 980.10K shares. Companhia Paranaense de Energia – COPEL shares reached a high of $5.39 and dropped to a low of $5.285 until finishing in the latest session at $5.33.

The one-year ELP stock forecast points to a potential upside of 24.4. The average equity rating for ELP stock is currently 1.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Companhia Paranaense de Energia – COPEL [ELP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELP shares is $7.05 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELP stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for Companhia Paranaense de Energia – COPEL shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 22, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on November 14, 2019, representing the official price target for Companhia Paranaense de Energia – COPEL stock.

The Average True Range (ATR) for Companhia Paranaense de Energia – COPEL is set at 0.16, with the Price to Sales ratio for ELP stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 3.75, with the Price to Cash per share for the same quarter was set at 1.70. Price to Free Cash Flow for ELP in the course of the last twelve months was 17.13 with Quick ratio for the last quarter at 1.20.

ELP Stock Performance Analysis:

Companhia Paranaense de Energia – COPEL [ELP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.30. With this latest performance, ELP shares gained by 0.76% in over the last four-week period, additionally sinking by -3.93% over the last 6 months – not to mention a drop of -9.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ELP stock in for the last two-week period is set at 43.79, with the RSI for the last a single of trading hit 43.35, and the three-weeks RSI is set at 43.63 for Companhia Paranaense de Energia – COPEL [ELP]. The present Moving Average for the last 50 days of trading for this stock 5.72, while it was recorded at 5.36 for the last single week of trading.

Insight into Companhia Paranaense de Energia – COPEL Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Companhia Paranaense de Energia – COPEL [ELP] shares currently have an operating margin of +23.09 and a Gross Margin at +28.02. Companhia Paranaense de Energia – COPEL’s Net Margin is presently recorded at +20.55.

Return on Total Capital for ELP is now 14.44, given the latest momentum, and Return on Invested Capital for the company is 13.96. Return on Equity for this stock inclined to 20.58, with Return on Assets sitting at 9.00. When it comes to the capital structure of this company, Companhia Paranaense de Energia – COPEL [ELP] has a Total Debt to Total Equity ratio set at 50.53. Additionally, ELP Total Debt to Total Capital is recorded at 33.57, with Total Debt to Total Assets ending up at 21.55. Long-Term Debt to Equity for the company is recorded at 37.30, with the Long-Term Debt to Total Capital now at 24.78.

Reflecting on the efficiency of the workforce at the company, Companhia Paranaense de Energia – COPEL [ELP] managed to generate an average of $574,265 per employee. Receivables Turnover for the company is 3.23 with a Total Asset Turnover recorded at a value of 0.44.Companhia Paranaense de Energia – COPEL’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

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Companhia Paranaense de Energia – COPEL [ELP] Insider Position Details

There are presently around $252 million, or 17.40% of ELP stock, in the hands of institutional investors. The top three institutional holders of ELP stocks are: APERIO GROUP, LLC with ownership of 10,295,120, which is approximately 10.43% of the company’s market cap and around 55.60% of the total institutional ownership; BLACKROCK INC., holding 10,072,392 shares of the stock with an approximate value of $53.69 million in ELP stocks shares; and LETKO, BROSSEAU & ASSOCIATES INC, currently with $32.63 million in ELP stock with ownership of nearly -0.351% of the company’s market capitalization.

Positions in Companhia Paranaense de Energia – COPEL stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 36 institutional holders increased their position in Companhia Paranaense de Energia – COPEL [NYSE:ELP] by around 3,224,828 shares. Additionally, 50 investors decreased positions by around 8,243,560 shares, while 16 investors held positions by with 35,826,921 shares. The mentioned changes placed institutional holdings at 47,295,309 shares, according to the latest SEC report filing. ELP stock had 12 new institutional investments in for a total of 443,744 shares, while 23 institutional investors sold positions of 2,063,466 shares during the same period.

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