Companhia Paranaense de Energia – Copel (NYSE:ELPC) Posts Earnings Results, Misses Estimates By $0.03 EPS

Companhia Paranaense de Energia – Copel (NYSE:ELPC) released its quarterly earnings results on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03), Zacks reports. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.13 billion.

Companhia Paranaense de Energia – Copel Trading Down 2.4%

Shares of NYSE:ELPC traded down $0.31 during trading on Thursday, hitting $12.44. 69,484 shares of the stock were exchanged, compared to its average volume of 333,162. The company has a fifty day moving average price of $12.18 and a two-hundred day moving average price of $10.67. The company has a market cap of $9.26 billion, a PE ratio of 21.82, a P/E/G ratio of 1.16 and a beta of 0.06. Companhia Paranaense de Energia – Copel has a 12-month low of $7.32 and a 12-month high of $13.70.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st will be paid a dividend of $0.1904 per share. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is 101.75%.

Insider Activity at Companhia Paranaense de Energia – Copel

In other news, Director Pedro Franco Sales sold 153,700 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $3.19, for a total transaction of $490,303.00. Following the sale, the director owned 74,844 shares of the company’s stock, valued at $238,752.36. The trade was a 67.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Institutional investors have recently modified their holdings of the company. Federation des caisses Desjardins du Quebec raised its position in shares of Companhia Paranaense de Energia – Copel by 143.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company’s stock worth $27,000 after purchasing an additional 1,650 shares during the last quarter. Millennium Management LLC raised its position in shares of Companhia Paranaense de Energia – Copel by 13.0% during the 4th quarter. Millennium Management LLC now owns 19,083 shares of the company’s stock worth $181,000 after purchasing an additional 2,190 shares during the last quarter. Arax Advisory Partners acquired a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth approximately $45,000. Atlas Capital Advisors Inc. acquired a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth approximately $49,000. Finally, Parallel Advisors LLC raised its position in shares of Companhia Paranaense de Energia – Copel by 491.2% during the 4th quarter. Parallel Advisors LLC now owns 6,237 shares of the company’s stock worth $59,000 after purchasing an additional 5,182 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms recently issued reports on ELPC. Zacks Research raised Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Wall Street Zen raised Companhia Paranaense de Energia – Copel from a “buy” rating to a “strong-buy” rating in a research note on Sunday, April 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Monday, April 20th. The Goldman Sachs Group initiated coverage on Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 28th. They set a “buy” rating and a $10.40 target price for the company. Finally, Scotiabank raised Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.40.

About Companhia Paranaense de Energia – Copel

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.