Companhia Paranaense de Energia – Copel (NYSE:ELPC) Shares Down 4.6% – Should You Sell?

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) dropped 4.6% during trading on Friday . The stock traded as low as $9.00 and last traded at $9.0750. Approximately 11,524 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 38,561 shares. The stock had previously closed at $9.51.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Companhia Paranaense de Energia – Copel Stock Down 5.8%

The stock has a market capitalization of $9.59 billion, a PE ratio of 17.57 and a beta of 0.04. The stock’s 50 day moving average price is $9.76 and its 200-day moving average price is $8.87.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last issued its earnings results on Wednesday, December 3rd. The company reported $0.10 earnings per share for the quarter. The firm had revenue of $1.28 billion during the quarter.

Companhia Paranaense de Energia – Copel Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, January 5th will be given a dividend of $0.3299 per share. The ex-dividend date of this dividend is Monday, January 5th. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is 45.10%.

Institutional Trading of Companhia Paranaense de Energia – Copel

An institutional investor recently raised its position in Companhia Paranaense de Energia – Copel stock. Optiver Holding B.V. lifted its holdings in Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 299,739 shares of the company’s stock after acquiring an additional 11,611 shares during the quarter. Optiver Holding B.V.’s holdings in Companhia Paranaense de Energia – Copel were worth $2,686,000 as of its most recent SEC filing.

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.