Companhia Paranaense de Energia – Copel (NYSE:ELPC) Shares Gap Down – Time to Sell?

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC – Get Free Report) gapped down before the market opened on Monday. The stock had previously closed at $13.91, but opened at $12.71. Companhia Paranaense de Energia – Copel shares last traded at $11.9160, with a volume of 528,200 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ELPC shares. Wall Street Zen downgraded shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

View Our Latest Analysis on ELPC

Companhia Paranaense de Energia – Copel Price Performance

The stock has a market capitalization of $8.42 billion, a PE ratio of 16.16 and a beta of -0.10. The business’s fifty day moving average price is $12.55 and its two-hundred day moving average price is $11.75.

Companhia Paranaense de Energia – Copel (NYSE:ELPC – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. As a group, equities research analysts anticipate that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.82 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st were paid a $0.1904 dividend. The ex-dividend date was Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is presently 85.71%.

Insider Activity at Companhia Paranaense de Energia – Copel

In related news, Director Pedro Sales sold 50,000 shares of the stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $3.48, for a total value of $174,000.00. Following the transaction, the director owned 24,844 shares in the company, valued at approximately $86,457.12. This represents a 66.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Companhia Paranaense de Energia – Copel

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Companhia Paranaense de Energia – Copel by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 17,265 shares of the company’s stock valued at $214,000 after acquiring an additional 3,079 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Companhia Paranaense de Energia – Copel by 13.6% in the second quarter. QRG Capital Management Inc. now owns 14,961 shares of the company’s stock valued at $174,000 after purchasing an additional 1,786 shares during the last quarter. Altar Rock LLC purchased a new stake in Companhia Paranaense de Energia – Copel in the second quarter valued at $121,000. BlueCrest Capital Management Ltd acquired a new stake in Companhia Paranaense de Energia – Copel during the 2nd quarter worth about $291,000. Finally, Engineers Gate Manager LP acquired a new stake in Companhia Paranaense de Energia – Copel during the 2nd quarter worth about $173,000.

About Companhia Paranaense de Energia – Copel

(Get Free Report)

Companhia Paranaense de Energia, known as Copel, is a Brazilian energy and telecommunications company headquartered in the state of Paraná. Founded in 1954, the company operates primarily in Brazil and has historically played a central role in the development of Paraná’s electricity infrastructure.

Copel’s principal activities include the generation, transmission and distribution of electricity. Its generation portfolio includes hydroelectric and wind power assets, while its transmission and distribution businesses deliver electricity to customers across Paraná.

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