Companhia Paranaense de Energia – Copel (NYSE:ELPC) Issues Earnings Results, Beats Expectations By $0.03 EPS

Companhia Paranaense de Energia – Copel (NYSE:ELPC) announced its earnings results on Friday. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03, Zacks reports. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $4.52 billion.

Companhia Paranaense de Energia – Copel Price Performance

ELPC traded down $0.14 during trading hours on Friday, hitting $11.56. 390,903 shares of the stock were exchanged, compared to its average volume of 230,094. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.02. The stock has a 50-day simple moving average of $10.03 and a 200-day simple moving average of $9.45. Companhia Paranaense de Energia – Copel has a 12 month low of $5.49 and a 12 month high of $11.76.

Companhia Paranaense de Energia – Copel Dividend Announcement

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

Wall Street Analyst Weigh In

ELPC has been the subject of a number of recent analyst reports. The Goldman Sachs Group started coverage on Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price objective 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. Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Wall Street Zen upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Saturday, February 7th. Finally, Scotiabank upgraded Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued 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 target price of $10.40.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in Companhia Paranaense de Energia – Copel by 575.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock worth $10,259,000 after acquiring an additional 919,086 shares during the last quarter. SPX Gestao de Recursos Ltda raised its position in shares of Companhia Paranaense de Energia – Copel by 1,194.4% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock worth $8,731,000 after purchasing an additional 847,198 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth approximately $3,935,000. Renaissance Technologies LLC bought a new stake in shares of Companhia Paranaense de Energia – Copel in the 4th quarter worth approximately $3,718,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Companhia Paranaense de Energia – Copel by 1,645.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 208,457 shares of the company’s stock valued at $1,981,000 after acquiring an additional 196,516 shares during the period.

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.