Companhia Paranaense de Energia – Copel (NYSE:ELPC) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Companhia Paranaense de Energia – Copel (NYSE:ELPC) posted its earnings results on Friday. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03, Zacks reports. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $4.52 billion.

Companhia Paranaense de Energia – Copel Stock Down 1.2%

Shares of Companhia Paranaense de Energia – Copel stock opened at $11.56 on Friday. The firm’s 50-day moving average price is $10.03 and its two-hundred day moving average price is $9.46. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 3.04 and a beta of 0.02. Companhia Paranaense de Energia – Copel has a 12-month low of $5.49 and a 12-month high of $11.76.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, January 5th will be paid a dividend of $0.3299 per share. The ex-dividend date is Monday, January 5th. Companhia Paranaense de Energia – Copel’s dividend payout ratio is presently 135.29%.

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 ELPC. Federation des caisses Desjardins du Quebec increased its stake in shares of Companhia Paranaense de Energia – Copel by 143.5% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company’s stock valued at $27,000 after purchasing an additional 1,650 shares during the last quarter. Arax Advisory Partners acquired a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $45,000. Atlas Capital Advisors Inc. bought a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $49,000. Parallel Advisors LLC raised its stake in Companhia Paranaense de Energia – Copel by 491.2% during the fourth quarter. Parallel Advisors LLC now owns 6,237 shares of the company’s stock worth $59,000 after acquiring an additional 5,182 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Companhia Paranaense de Energia – Copel in the fourth quarter worth about $71,000.

Analyst Ratings Changes

ELPC has been the subject of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. Wall Street Zen raised Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Saturday, February 7th. Scotiabank raised Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. Zacks Research raised Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Companhia Paranaense de Energia – Copel presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

About Companhia Paranaense de Energia – Copel

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.