Companhia Paranaense de Energia – Copel (NYSE:ELPC) Trading Down 4.4% – Time to Sell?

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC)’s share price traded down 4.4% on Tuesday . The company traded as low as $8.98 and last traded at $9.1750. 115,531 shares traded hands during mid-day trading, an increase of 784% from the average session volume of 13,075 shares. The stock had previously closed at $9.60.

Wall Street Analysts Forecast Growth

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

Companhia Paranaense de Energia – Copel Stock Performance

The firm has a fifty day simple moving average of $9.72 and a 200-day simple moving average of $8.82. The company has a market capitalization of $9.97 billion, a PE ratio of 18.18 and a beta of -0.02.

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

Companhia Paranaense de Energia – Copel Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, January 29th. Stockholders of record on Friday, January 2nd will be issued a $0.2795 dividend. The ex-dividend date of this dividend is Friday, January 2nd. Companhia Paranaense de Energia – Copel’s payout ratio is 45.10%.

Institutional Trading of Companhia Paranaense de Energia – Copel

An institutional investor recently bought a new position in Companhia Paranaense de Energia – Copel stock. Allworth Financial LP acquired a new position in shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,250 shares of the company’s stock, valued at approximately $28,000.

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.