Companhia Paranaense de Energia – Copel (NYSE:ELPC) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) from a buy rating to a hold rating in a report published on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Friday, July 17th. One 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

Shares of ELPC opened at $11.73 on Friday. Companhia Paranaense de Energia – Copel has a one year low of $7.80 and a one year high of $13.70. The company has a market cap of $8.73 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.04 and a beta of -0.07. The firm has a 50 day simple moving average of $11.58 and a two-hundred day simple moving average of $11.53.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, analysts expect that Companhia Paranaense de Energia – Copel will post 0.7 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – Copel Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, May 1st will be paid a $0.1904 dividend. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is currently 105.26%.

Insiders Place Their Bets

In related news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 63,546 shares of the company’s stock, valued at $186,825.24. This trade represents a 33.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of institutional investors have recently made changes to their positions in ELPC. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $921,000. Blue Trust Inc. lifted its stake in shares of Companhia Paranaense de Energia – Copel by 2,635.1% in the fourth quarter. Blue Trust Inc. now owns 48,055 shares of the company’s stock worth $457,000 after acquiring an additional 46,298 shares during the period. Perpetual Ltd acquired a new position in shares of Companhia Paranaense de Energia – Copel in the fourth quarter worth approximately $276,000. Signaturefd LLC boosted its holdings in Companhia Paranaense de Energia – Copel by 1,624.7% in the fourth 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, Venturi Wealth Management LLC bought a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter valued at approximately $96,000.

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.