Companhia Paranaense de Energia – Copel (NYSE:ELPC) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Friday, July 17th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

Shares of ELPC opened at $12.38 on Friday. The stock has a market capitalization of $9.21 billion, a PE ratio of 17.68, a P/E/G ratio of 1.50 and a beta of -0.08. Companhia Paranaense de Energia – Copel has a 1 year low of $8.26 and a 1 year high of $13.70. The company’s 50-day simple moving average is $11.59 and its 200-day simple moving average is $11.82.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. On average, sell-side analysts predict that Companhia Paranaense de Energia – Copel will post 0.82 earnings per share for the current year.

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 paid a dividend of $0.1904 per share. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio is presently 85.71%.

Institutional Trading of Companhia Paranaense de Energia – Copel

Several hedge funds have recently added to or reduced their stakes in ELPC. Letko Brosseau & Associates Inc. grew its stake in shares of Companhia Paranaense de Energia – Copel by 10,965.8% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company’s stock worth $69,199,000 after purchasing an additional 7,210,646 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at $454,000. Banco BTG Pactual S.A. acquired a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter valued at $588,000. Principal Financial Group Inc. acquired a new stake in Companhia Paranaense de Energia – Copel in the first quarter valued at $540,000. Finally, Hsbc Holdings PLC acquired a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter valued at $1,730,000.

About Companhia Paranaense de Energia – Copel

Companhia Paranaense de Energia, known as Copel, is a Brazilian electric utility headquartered in Curitiba, in the state of Paraná. Founded in 1954, the company operates across several segments of the power industry, including electricity generation, transmission and distribution.

Copel’s generation portfolio includes hydroelectric, wind and thermal power assets, while its transmission business supports the movement of electricity through Brazil’s interconnected power system. The company’s distribution operations deliver electricity to residential, commercial and industrial customers throughout Paraná.

In addition to its core electricity businesses, Copel has historically provided telecommunications and related infrastructure services.