Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Trading Up 4.6% – Should You Buy?

Shares of Companhia Paranaense de Energia (COPEL) (NYSE:ELP) rose 4.6% during trading on Tuesday . The stock traded as high as $9.82 and last traded at $9.8150. Approximately 274,910 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 252,146 shares. The stock had previously closed at $9.38.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia (COPEL) in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Companhia Paranaense de Energia (COPEL) Price Performance

The stock has a 50-day simple moving average of $10.31 and a 200 day simple moving average of $9.48. The stock has a market capitalization of $5.83 billion, a P/E ratio of 81.63, a price-to-earnings-growth ratio of 3.56 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 1.43.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP) last issued its quarterly earnings results on Thursday, November 13th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $972.33 million. Companhia Paranaense de Energia (COPEL) had a net margin of 8.66% and a return on equity of 7.77%. On average, equities analysts forecast that Companhia Paranaense de Energia will post 0.12 earnings per share for the current fiscal year.

Companhia Paranaense de Energia (COPEL) Announces Dividend

The firm also recently announced a special dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a $0.5732 dividend. The ex-dividend date of this dividend is Wednesday, December 24th. Companhia Paranaense de Energia (COPEL)’s dividend payout ratio (DPR) is 208.33%.

Institutional Investors Weigh In On Companhia Paranaense de Energia (COPEL)

A number of institutional investors and hedge funds have recently modified their holdings of ELP. Laird Norton Wetherby Wealth Management LLC boosted its position in shares of Companhia Paranaense de Energia (COPEL) by 5.5% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 27,625 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 1,434 shares during the last quarter. Signaturefd LLC boosted its holdings in Companhia Paranaense de Energia (COPEL) by 14.9% during the second quarter. Signaturefd LLC now owns 15,509 shares of the utilities provider’s stock worth $142,000 after buying an additional 2,016 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Companhia Paranaense de Energia (COPEL) by 16.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,923 shares of the utilities provider’s stock worth $173,000 after buying an additional 2,621 shares during the period. Ethic Inc. grew its position in shares of Companhia Paranaense de Energia (COPEL) by 7.4% during the 2nd quarter. Ethic Inc. now owns 39,022 shares of the utilities provider’s stock worth $348,000 after buying an additional 2,676 shares during the period. Finally, Wealthstream Advisors Inc. increased its stake in shares of Companhia Paranaense de Energia (COPEL) by 29.8% in the 2nd quarter. Wealthstream Advisors Inc. now owns 13,590 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 3,119 shares during the last quarter. 3.80% of the stock is owned by institutional investors.

About Companhia Paranaense de Energia (COPEL)

Companhia Paranaense de Energia (COPEL) is a leading integrated electric utility based in the state of Paraná, Brazil. Established in 1954 and headquartered in Curitiba, COPEL operates across the full value chain of the power sector, including generation, transmission, distribution and commercialization of electricity. The company’s operations are organized to serve residential, commercial, industrial and rural customers, making COPEL one of the primary energy providers in southern Brazil.

In its generation portfolio, COPEL leverages a diverse mix of hydroelectric, thermal and renewable resources.