Companhia Paranaense de Energia – COPEL (NYSE:ELP) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 4,050,000 shares, a drop of 18.2% from the September 15th total of 4,950,000 shares. Currently, 3.2% of the company’s shares are sold short. Based on an average trading volume of 593,000 shares, the days-to-cover ratio is presently 6.8 days.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Clark Capital Management Group Inc. acquired a new stake in shares of Companhia Paranaense de Energia – COPEL in the second quarter valued at $17,525,000. State Street Corp boosted its holdings in Companhia Paranaense de Energia – COPEL by 45.7% in the first quarter. State Street Corp now owns 773,560 shares of the utilities provider’s stock valued at $8,346,000 after purchasing an additional 242,570 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in Companhia Paranaense de Energia – COPEL by 12.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 233,800 shares of the utilities provider’s stock valued at $2,170,000 after purchasing an additional 25,900 shares during the period. Alliancebernstein L.P. boosted its holdings in Companhia Paranaense de Energia – COPEL by 19.5% in the first quarter. Alliancebernstein L.P. now owns 217,682 shares of the utilities provider’s stock valued at $2,266,000 after purchasing an additional 35,513 shares during the period. Finally, Assetmark Inc. boosted its holdings in Companhia Paranaense de Energia – COPEL by 10,531.3% in the second quarter. Assetmark Inc. now owns 155,961 shares of the utilities provider’s stock valued at $1,772,000 after purchasing an additional 154,494 shares during the period. 0.49% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on ELP shares. ValuEngine raised Companhia Paranaense de Energia – COPEL from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 6th. Zacks Investment Research cut Companhia Paranaense de Energia – COPEL from a “buy” rating to a “hold” rating in a research note on Wednesday, October 7th.

Shares of NYSE ELP opened at $11.59 on Friday. Companhia Paranaense de Energia – COPEL has a twelve month low of $8.28 and a twelve month high of $18.15. The company has a current ratio of 1.43, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $11.68 and a 200-day simple moving average of $11.33. The stock has a market capitalization of $3.17 billion, a PE ratio of 4.55 and a beta of 0.63.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last issued its quarterly earnings data on Tuesday, August 18th. The utilities provider reported $1.09 earnings per share for the quarter. Companhia Paranaense de Energia – COPEL had a return on equity of 15.62% and a net margin of 17.67%. The business had revenue of $869.92 million during the quarter. On average, equities analysts predict that Companhia Paranaense de Energia – COPEL will post 1.08 earnings per share for the current year.

About Companhia Paranaense de Energia – COPEL

Companhia Paranaense de Energia – COPEL engages in the generation, transmission, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers primarily in the State of Paraná, Brazil. As of December 31, 2019, the company operated 19 hydroelectric plants, 25 wind plants, and one thermoelectric plant with a total installed capacity of 5,742.0 megawatts; and owned and operated 3,389 kilometers of transmission lines and 199,952.6 kilometers of distribution lines.

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