Companhia Paranaense de Energia – Copel (NYSE:ELPC) Shares Gap Down – Here’s Why

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) shares gapped down prior to trading on Monday. The stock had previously closed at $13.91, but opened at $12.71. Companhia Paranaense de Energia – Copel shares last traded at $11.9160, with a volume of 528,200 shares traded.

Analyst Upgrades and Downgrades

ELPC has been the topic of a number of research reports. Wall Street Zen downgraded shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Companhia Paranaense de Energia – Copel currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Trading Down 20.1%

The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.69 and a beta of -0.10. The company has a fifty day simple moving average of $12.56 and a 200-day simple moving average of $12.15.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. As a group, analysts anticipate that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.82 earnings per share for the current year.

Companhia Paranaense de Energia – Copel Announces Dividend

The company also recently declared a special dividend, which was paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st were issued a dividend of $0.1904 per share. The ex-dividend date was Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is currently 85.71%.

Insider Activity at Companhia Paranaense de Energia – Copel

In related news, Director Pedro Sales sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $3.48, for a total value of $174,000.00. Following the completion of the sale, the director owned 24,844 shares in the company, valued at approximately $86,457.12. This represents a 66.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in shares of Companhia Paranaense de Energia – Copel by 27.1% in the first quarter. Quantinno Capital Management LP now owns 394,375 shares of the company’s stock valued at $4,709,000 after purchasing an additional 84,121 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Companhia Paranaense de Energia – Copel by 42.1% in the first quarter. Hsbc Holdings PLC now owns 258,536 shares of the company’s stock worth $3,087,000 after buying an additional 76,653 shares during the period. Sei Investments Co. boosted its position in shares of Companhia Paranaense de Energia – Copel by 8.8% in the first quarter. Sei Investments Co. now owns 71,314 shares of the company’s stock worth $852,000 after buying an additional 5,787 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Companhia Paranaense de Energia – Copel during the first quarter valued at $540,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Companhia Paranaense de Energia – Copel by 16,094.0% during the second quarter. NewEdge Advisors LLC now owns 40,323 shares of the company’s stock valued at $470,000 after buying an additional 40,074 shares in the last quarter.

Companhia Paranaense de Energia – Copel Company Profile

Companhia Paranaense de Energia, known as Copel, is a Brazilian energy and telecommunications company headquartered in the state of Paraná. Founded in 1954, the company operates primarily in Brazil and has historically played a central role in the development of Paraná’s electricity infrastructure.

Copel’s principal activities include the generation, transmission and distribution of electricity. Its generation portfolio includes hydroelectric and wind power assets, while its transmission and distribution businesses deliver electricity to customers across Paraná.