Companhia Paranaense de Energia – Copel (NYSE:ELPC) Sees Large Volume Increase – Here’s What Happened

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) saw strong trading volume on Tuesday . 861,231 shares traded hands during trading, an increase of 162% from the previous session’s volume of 328,888 shares.The stock last traded at $11.6890 and had previously closed at $11.95.

Analyst Upgrades and Downgrades

ELPC has been the subject of a number of research reports. Wall Street Zen lowered Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. The Goldman Sachs Group initiated coverage on Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Monday, April 20th. Finally, Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

The business has a fifty day simple moving average of $12.32 and a two-hundred day simple moving average of $10.87. The company has a market cap of $8.85 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.03 and a beta of 0.06.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, equities research analysts predict that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.74 EPS for the current year.

Companhia Paranaense de Energia – Copel Dividend Announcement

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

Insiders Place Their Bets

In other Companhia Paranaense de Energia – Copel news, Director Pedro Franco Sales sold 153,700 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 74,844 shares in the company, valued at $238,752.36. This represents a 67.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

A number of large investors have recently made changes to their positions in ELPC. Federation des caisses Desjardins du Quebec increased its position in shares of Companhia Paranaense de Energia – Copel by 143.5% during the fourth 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 in the last quarter. Arax Advisory Partners acquired a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth $45,000. Farther Finance Advisors LLC increased its position 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 in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth $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.

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.