Companhia Paranaense de Energia – Copel (NYSE:ELPC) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Companhia Paranaense de Energia – Copel (NYSE:ELPC) posted its earnings results on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03), Zacks reports. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.13 billion.

Companhia Paranaense de Energia – Copel Trading Down 0.5%

Shares of Companhia Paranaense de Energia – Copel stock opened at $12.80 on Thursday. The company has a market cap of $9.53 billion, a P/E ratio of 22.47, a PEG ratio of 1.16 and a beta of 0.06. The business has a 50-day moving average price of $12.18 and a two-hundred day moving average price of $10.67. Companhia Paranaense de Energia – Copel has a 1-year low of $7.32 and a 1-year high of $13.70.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, May 1st will be issued a $0.1904 dividend. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is presently 105.45%.

Insider Transactions at Companhia Paranaense de Energia – Copel

In other Companhia Paranaense de Energia – Copel news, Director Pedro Franco Sales sold 153,700 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $3.19, for a total value of $490,303.00. Following the completion of the sale, the director owned 74,844 shares of the company’s stock, valued at approximately $238,752.36. This trade represents a 67.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

Large investors have recently bought and sold shares of the stock. Compound Planning Inc. purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $114,000. Invesco Ltd. bought a new position in Companhia Paranaense de Energia – Copel in the 4th quarter valued at $370,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $190,000. Vident Advisory LLC purchased a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $1,089,000. Finally, Summit Securities Group LLC purchased a new position in Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $71,000.

Analysts Set New Price Targets

ELPC has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price target for the company. Scotiabank upgraded Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. Wall Street Zen raised Companhia Paranaense de Energia – Copel from a “buy” rating to a “strong-buy” rating in a research report on Sunday, April 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Monday, April 20th. Finally, Zacks Research raised shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

About Companhia Paranaense de Energia – Copel

Companhia Paranaense de Energia – Copel is a Brazilian utility company primarily engaged in the generation, transmission and distribution of electricity. Established in 1954, Copel operates a diversified portfolio of power plants, with a strong emphasis on hydroelectric facilities supplemented by thermal and renewable energy sources. The company’s integrated network spans the entirety of Paraná state, delivering electricity services to residential, commercial and industrial customers through a combination of high-voltage transmission lines and local distribution networks.

In addition to its core power business, Copel has expanded into telecommunications through its Copel Telecom subsidiary.