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

Companhia Paranaense de Energia – Copel (NYSE:ELPC) released its quarterly earnings results on Friday. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03, Zacks reports. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $4.52 billion.

Companhia Paranaense de Energia – Copel Price Performance

NYSE ELPC traded down $0.14 during trading hours on Friday, hitting $11.56. The company had a trading volume of 390,903 shares, compared to its average volume of 230,094. The firm’s 50 day moving average is $10.03 and its 200 day moving average is $9.45. Companhia Paranaense de Energia – Copel has a fifty-two week low of $5.49 and a fifty-two week high of $11.76. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 3.07 and a beta of 0.02.

Companhia Paranaense de Energia – Copel Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on ELPC. Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. Scotiabank raised shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. The Goldman Sachs Group assumed coverage on Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Saturday, February 7th. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Institutional Trading of Companhia Paranaense de Energia – Copel

Several large investors have recently bought and sold shares of ELPC. Federation des caisses Desjardins du Quebec raised its stake in shares of Companhia Paranaense de Energia – Copel by 143.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company’s stock valued at $27,000 after purchasing an additional 1,650 shares during the period. Arax Advisory Partners purchased a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter worth $45,000. Atlas Capital Advisors Inc. purchased a new position in Companhia Paranaense de Energia – Copel in the 4th quarter valued at about $49,000. Parallel Advisors LLC increased its position in shares of Companhia Paranaense de Energia – Copel by 491.2% during the fourth quarter. Parallel Advisors LLC now owns 6,237 shares of the company’s stock worth $59,000 after acquiring an additional 5,182 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth about $71,000.

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.