Insider Selling: Companhia Paranaense de Energia – Copel (NYSE:ELPC) Director Sells 32,490 Shares

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) Director Abreu Marco Antonio Villela De sold 32,490 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $2.94, for a total transaction of $95,520.60. Following the sale, the director owned 63,546 shares in the company, valued at $186,825.24. This trade represents a 33.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Companhia Paranaense de Energia – Copel Stock Performance

Shares of ELPC traded up $0.05 during mid-day trading on Thursday, hitting $11.59. 237,710 shares of the company’s stock were exchanged, compared to its average volume of 339,482. The stock’s 50-day moving average is $11.93 and its 200-day moving average is $11.18. Companhia Paranaense de Energia – Copel Unsponsored ADR has a fifty-two week low of $7.32 and a fifty-two week high of $13.70. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 0.88 and a beta of -0.07.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts anticipate that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.76 EPS for the current year.

Companhia Paranaense de Energia – Copel Dividend Announcement

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

Analyst Ratings Changes

ELPC has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Monday, April 20th. Wall Street Zen lowered Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ELPC. 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 acquiring an additional 1,650 shares in the last quarter. Arax Advisory Partners acquired a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at $45,000. Farther Finance Advisors LLC grew its holdings in shares of Companhia Paranaense de Energia – Copel by 8,715.5% during the fourth quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company’s stock worth $49,000 after purchasing an additional 5,055 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Companhia Paranaense de Energia – Copel by 222.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,994 shares of the company’s stock worth $57,000 after purchasing an additional 4,134 shares in the last quarter.

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.