Companhia Paranaense de Energia – Copel (NYSE:ELPC) Releases Earnings Results, Beats Expectations By $0.02 EPS

Companhia Paranaense de Energia – Copel (NYSE:ELPC) posted its earnings results on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02, Zacks reports.

Companhia Paranaense de Energia – Copel Trading Down 0.5%

Shares of ELPC stock traded down $0.06 on Wednesday, reaching $11.61. 393,646 shares of the stock were exchanged, compared to its average volume of 413,513. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.04 and a beta of -0.06. The business’s 50 day moving average price is $11.57 and its 200 day moving average price is $11.60. Companhia Paranaense de Energia – Copel has a twelve month low of $8.00 and a twelve month high of $13.70.

Companhia Paranaense de Energia – Copel Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, October 13th. Stockholders 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 payout ratio is 105.26%.

Insiders Place Their Bets

In other Companhia Paranaense de Energia – Copel news, Director Abreu Marco Antonio Villela De sold 32,490 shares of Companhia Paranaense de Energia – Copel stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $2.94, for a total transaction of $95,520.60. Following the completion of the sale, the director directly owned 63,546 shares of the company’s stock, valued at $186,825.24. The trade was a 33.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

Several hedge funds have recently added to or reduced their stakes in ELPC. Clearbridge Investments LLC purchased a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth about $192,000. Syon Capital LLC purchased a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter valued at approximately $219,000. Wealth Architects LLC purchased a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth approximately $257,000. LPL Financial LLC purchased a new stake in Companhia Paranaense de Energia – Copel in the 4th quarter valued at $284,000. Finally, Quadrant Capital Group LLC grew its position in Companhia Paranaense de Energia – Copel by 1,959.6% during the 4th quarter. Quadrant Capital Group LLC now owns 30,874 shares of the company’s stock worth $294,000 after purchasing an additional 29,375 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Friday, July 17th. Wall Street Zen cut Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a research note on Saturday. One 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

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.