Companhia Paranaense de Energia – Copel (NYSE:ELPC) Sees Large Volume Increase – Here’s What Happened

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) shares saw unusually-strong trading volume on Tuesday. Approximately 620,729 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

ELPC has been the subject of several research reports. Wall Street Zen cut Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Companhia Paranaense de Energia – Copel has a consensus rating of “Moderate Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Stock Up 0.9%

The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.69 and a beta of -0.10. The business has a 50 day moving average of $12.52 and a 200 day moving average of $11.73.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Research analysts predict 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 company also recently declared a special dividend, which was paid on Tuesday, October 13th. Shareholders of record on Friday, May 1st were paid a dividend of $0.1904 per share. The ex-dividend date of this dividend was Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is currently 85.71%.

Insider Activity

In other news, Director Pedro Sales sold 50,000 shares of Companhia Paranaense de Energia – Copel stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $3.48, for a total transaction of $174,000.00. Following the completion of the sale, the director directly owned 24,844 shares in the company, valued at $86,457.12. The trade was a 66.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 3,079 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of 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 worth $174,000 after purchasing an additional 1,786 shares during the period. Altar Rock LLC acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the second quarter worth $121,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the second quarter worth $291,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the second quarter worth $173,000.

About Companhia Paranaense de Energia – Copel

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.