Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC – Get Free Report) shares saw strong trading volume on Tuesday. 620,729 shares traded hands during trading, an increase of 45% from the average daily volume of 428,653 shares. The stock last traded at $11.1660 and had previously closed at $11.19.
Analysts Set New Price Targets
ELPC has been the topic of several research reports. Wall Street Zen cut shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Thursday, October 15th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.40.
Read Our Latest Analysis on ELPC
Companhia Paranaense de Energia – Copel Stock Down 3.0%
The company has a market cap of $8.17 billion, a P/E ratio of 15.68, a PEG ratio of 1.69 and a beta of -0.10. The firm has a fifty day moving average price of $12.56 and a 200 day moving average price of $11.76.
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, beating analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. On average, sell-side analysts anticipate that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.82 earnings per share for the current year.
Companhia Paranaense de Energia – Copel Dividend Announcement
The firm also recently disclosed a special dividend, which was paid on Tuesday, October 13th. Investors of record on Friday, May 1st were given a $0.1904 dividend. The ex-dividend date was Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is 85.71%.
Insider Activity
In related news, Director Pedro Sales sold 50,000 shares of the company’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $3.48, for a total value of $174,000.00. Following the sale, the director directly owned 24,844 shares of the company’s stock, valued at $86,457.12. This represents a 66.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Companhia Paranaense de Energia – Copel during the third quarter worth about $1,003,000. 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 buying an additional 3,079 shares during the period. QRG Capital Management Inc. increased its stake in Companhia Paranaense de Energia – Copel by 13.6% during the 2nd quarter. QRG Capital Management Inc. now owns 14,961 shares of the company’s stock valued at $174,000 after buying an additional 1,786 shares during the period. Altar Rock LLC bought a new stake in shares of Companhia Paranaense de Energia – Copel during the 2nd quarter worth $121,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the second quarter worth approximately $291,000.
Companhia Paranaense de Energia – Copel Company Profile
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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