Companhia Paranaense de Energia – Copel (NYSE:ELPC) Stock Price Up 2.3% – Here’s Why

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) shares rose 2.3% during trading on Friday . The stock traded as high as $10.34 and last traded at $10.2960. Approximately 182,930 shares changed hands during trading, an increase of 20% from the average daily volume of 152,056 shares. The stock had previously closed at $10.06.

Analyst Ratings Changes

A number of analysts recently commented on ELPC shares. Scotiabank upgraded shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Companhia Paranaense de Energia – Copel presently has a consensus rating of “Buy”.

Companhia Paranaense de Energia – Copel Stock Up 2.3%

The firm’s fifty day moving average is $9.59 and its 200-day moving average is $8.97. The stock has a market capitalization of $7.66 billion, a PE ratio of 20.19 and a beta of 0.03.

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

Companhia Paranaense de Energia – Copel Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Companhia Paranaense de Energia – Copel by 8,715.5% during the fourth quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company’s stock valued at $49,000 after acquiring an additional 5,055 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Companhia Paranaense de Energia – Copel by 288.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 653,418 shares of the company’s stock valued at $6,214,000 after purchasing an additional 485,063 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth $96,000. Signaturefd LLC increased its holdings in shares of Companhia Paranaense de Energia – Copel by 1,624.7% during the 4th quarter. Signaturefd LLC now owns 19,575 shares of the company’s stock valued at $186,000 after acquiring an additional 18,440 shares during the last quarter. Finally, Perpetual Ltd bought a new position in Companhia Paranaense de Energia – Copel in the 4th quarter worth $276,000.

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.