Companhia Paranaense de Energia – Copel (NYSE:ELPC) Posts Earnings Results

Companhia Paranaense de Energia – Copel (NYSE:ELPCGet Free Report) released its quarterly earnings data on Wednesday. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02, Zacks reports. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion.

Companhia Paranaense de Energia – Copel Price Performance

Shares of ELPC stock traded down $0.14 on Friday, hitting $11.54. The stock had a trading volume of 180,012 shares, compared to its average volume of 348,027. The business has a 50 day moving average of $11.58 and a 200 day moving average of $11.61. Companhia Paranaense de Energia – Copel has a 12-month low of $8.00 and a 12-month high of $13.70. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.03 and a beta of -0.06.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, October 13th. Stockholders 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 dividend payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ELPC shares. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Friday, July 17th. Wall Street Zen downgraded Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Companhia Paranaense de Energia – Copel currently has an average rating of “Moderate Buy” and an average price target of $10.40.

Check Out Our Latest Stock Analysis on Companhia Paranaense de Energia – Copel

Insiders Place Their Bets

In other Companhia Paranaense de Energia – Copel news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total value of $95,520.60. Following the completion of the sale, the director directly owned 63,546 shares of the company’s stock, valued at approximately $186,825.24. This represents a 33.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

A number of hedge funds and other institutional investors have recently modified their holdings of ELPC. Federation des caisses Desjardins du Quebec grew its position in Companhia Paranaense de Energia – Copel by 143.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company’s stock valued at $27,000 after buying an additional 1,650 shares during the period. Millennium Management LLC boosted its stake in Companhia Paranaense de Energia – Copel by 13.0% in the fourth quarter. Millennium Management LLC now owns 19,083 shares of the company’s stock valued at $181,000 after acquiring an additional 2,190 shares during the last quarter. Arax Advisory Partners purchased a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $45,000. Atlas Capital Advisors Inc. bought a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter valued at approximately $49,000. Finally, Parallel Advisors LLC raised its holdings in shares of 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.

Companhia Paranaense de Energia – Copel Company Profile

(Get Free Report)

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.

See Also

Earnings History for Companhia Paranaense de Energia - Copel (NYSE:ELPC)

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