Companhia Paranaense de Energia – Copel (NYSE:ELPC) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Companhia Paranaense de Energia – Copel (NYSE:ELPC) posted its earnings results on Wednesday. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02, Zacks reports.

Companhia Paranaense de Energia – Copel Stock Performance

NYSE:ELPC traded down $0.06 during mid-day trading on Wednesday, reaching $11.61. The stock had a trading volume of 393,646 shares, compared to its average volume of 349,509. The firm has a 50 day moving average price of $11.57 and a two-hundred day moving average price of $11.60. The stock has a market capitalization of $8.64 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.04 and a beta of -0.06. Companhia Paranaense de Energia – Copel has a one year low of $8.00 and a one year high of $13.70.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, May 1st will be issued a dividend of $0.1904 per share. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is currently 105.26%.

Analyst Ratings Changes

Several research firms have weighed in on ELPC. Wall Street Zen cut Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Insider Buying and Selling

In other Companhia Paranaense de Energia – Copel news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total transaction of $95,520.60. Following the transaction, the director directly owned 63,546 shares in the company, valued at $186,825.24. This trade represents a 33.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the 4th quarter valued at $154,000. Goldman Sachs Group Inc. raised its position in Companhia Paranaense de Energia – Copel by 575.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock worth $10,259,000 after purchasing an additional 919,086 shares during the period. Parallel Advisors LLC raised its position in Companhia Paranaense de Energia – Copel by 491.2% in the 4th quarter. Parallel Advisors LLC now owns 6,237 shares of the company’s stock worth $59,000 after purchasing an additional 5,182 shares during the period. Syon Capital LLC bought a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter worth $219,000. Finally, Clearbridge Investments LLC bought a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter worth $192,000.

Companhia Paranaense de Energia – Copel Company Profile

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.