Companhia Paranaense de Energia – Copel (NYSE:ELPC) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Companhia Paranaense de Energia – Copel (NYSE:ELPC) announced its quarterly earnings results on Wednesday. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02, Zacks reports. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion.

Companhia Paranaense de Energia – Copel Stock Up 0.6%

Companhia Paranaense de Energia – Copel stock traded up $0.07 during mid-day trading on Thursday, reaching $11.65. The company had a trading volume of 280,473 shares, compared to its average volume of 348,583. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.04 and a beta of -0.06. The company has a 50 day moving average of $11.57 and a 200-day moving average of $11.60. Companhia Paranaense de Energia – Copel has a 52 week low of $8.00 and a 52 week high of $13.70.

Companhia Paranaense de Energia – Copel Dividend Announcement

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

Insider Activity

In other news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total transaction of $95,520.60. Following the completion of the transaction, the director owned 63,546 shares of the company’s stock, valued at approximately $186,825.24. This represents a 33.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of Companhia Paranaense de Energia – Copel by 13.0% in the 4th quarter. Millennium Management LLC now owns 19,083 shares of the company’s stock worth $181,000 after acquiring an additional 2,190 shares during the period. First Trust Advisors LP bought a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $173,000. HRT Financial LP acquired a new position in shares of Companhia Paranaense de Energia – Copel in the fourth quarter valued at $169,000. Cerity Partners LLC bought a new position in Companhia Paranaense de Energia – Copel in the fourth quarter worth $159,000. Finally, O Shaughnessy Asset Management LLC lifted its position in Companhia Paranaense de Energia – Copel by 4,472.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 16,279 shares of the company’s stock worth $155,000 after purchasing an additional 15,923 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Friday, July 17th. Wall Street Zen lowered shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.40.

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.