Companhia Paranaense de Energia – Copel (NYSE:ELPC) Announces Earnings Results

Companhia Paranaense de Energia – Copel (NYSE:ELPC) announced its quarterly earnings data on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03), Zacks reports. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.13 billion.

Companhia Paranaense de Energia – Copel Trading Down 3.4%

NYSE:ELPC traded down $0.43 on Thursday, reaching $12.32. 143,242 shares of the stock traded hands, compared to its average volume of 334,038. Companhia Paranaense de Energia – Copel has a 1-year low of $7.32 and a 1-year high of $13.70. The company’s 50 day moving average is $12.18 and its 200-day moving average is $10.67. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.16 and a beta of 0.06.

Companhia Paranaense de Energia – Copel Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Friday, May 1st will be given a dividend of $0.1904 per share. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio is currently 101.75%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Monday, April 20th. Wall Street Zen upgraded Companhia Paranaense de Energia – Copel from a “buy” rating to a “strong-buy” rating in a research report on Sunday, April 5th. Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Scotiabank upgraded shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They set a “buy” rating and a $10.40 target price on the stock. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Insider Activity at Companhia Paranaense de Energia – Copel

In other news, Director Pedro Franco Sales sold 153,700 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $3.19, for a total value of $490,303.00. Following the sale, the director directly owned 74,844 shares of the company’s stock, valued at approximately $238,752.36. This represents a 67.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Trading of Companhia Paranaense de Energia – Copel

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Companhia Paranaense de Energia – Copel by 575.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock worth $10,259,000 after acquiring an additional 919,086 shares in the last quarter. SPX Gestao de Recursos Ltda grew its stake in Companhia Paranaense de Energia – Copel by 1,194.4% during the fourth 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 during the period. Itau Unibanco Holding S.A. bought a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter worth approximately $3,935,000. Renaissance Technologies LLC bought a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth approximately $3,718,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Companhia Paranaense de Energia – Copel by 1,645.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 208,457 shares of the company’s stock valued at $1,981,000 after acquiring an additional 196,516 shares in 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.