Wall Street Zen upgraded shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.
Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Companhia Paranaense de Energia – Copel currently has a consensus rating of “Moderate Buy” and an average price target of $10.40.
Get Our Latest Stock Analysis on Companhia Paranaense de Energia – Copel
Companhia Paranaense de Energia – Copel Stock Down 0.9%
Companhia Paranaense de Energia – Copel (NYSE:ELPC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Equities analysts anticipate that Companhia Paranaense de Energia – Copel will post 0.82 EPS for the current fiscal year.
Companhia Paranaense de Energia – Copel Announces Dividend
The firm also recently declared a special dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Friday, May 1st will be paid a $0.1904 dividend. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is presently 85.71%.
Insider Buying and Selling
In other news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total transaction of $95,520.60. Following the completion of the transaction, the director directly owned 63,546 shares in the company, valued at $186,825.24. This represents a 33.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Institutional Trading of Companhia Paranaense de Energia – Copel
A number of hedge funds and other institutional investors have recently modified their holdings of ELPC. Letko Brosseau & Associates Inc. boosted its position in 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 valued at $69,199,000 after purchasing an additional 7,210,646 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Companhia Paranaense de Energia – Copel by 575.4% during 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 last quarter. SPX Gestao de Recursos Ltda raised its stake in shares of Companhia Paranaense de Energia – Copel by 1,194.4% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock worth $8,731,000 after purchasing an additional 847,198 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth approximately $3,935,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Companhia Paranaense de Energia – Copel by 27.1% in the 1st quarter. Quantinno Capital Management LP now owns 394,375 shares of the company’s stock valued at $4,709,000 after buying an additional 84,121 shares during the last quarter.
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.
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