Short Interest in Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) Decreases By 37.4%

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 382,079 shares, a drop of 37.4% from the June 15th total of 610,117 shares. Based on an average trading volume of 391,035 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the shares of the stock are short sold.

Companhia Paranaense de Energia – Copel Price Performance

Shares of NYSE:ELPC traded up $0.07 on Friday, reaching $11.52. 145,275 shares of the company traded hands, compared to its average volume of 342,257. The stock has a market capitalization of $8.57 billion, a PE ratio of 20.19, a P/E/G ratio of 0.89 and a beta of -0.07. The company’s 50 day moving average is $11.66 and its 200-day moving average is $11.36. Companhia Paranaense de Energia – Copel has a fifty-two week low of $7.53 and a fifty-two week high of $13.70.

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

Companhia Paranaense de Energia – Copel Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, May 1st will be given a $0.1904 dividend. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is 105.26%.

Insider Buying and Selling

In related news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $186,825.24. The trade was 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 available at the SEC website.

Institutional Trading of Companhia Paranaense de Energia – Copel

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Federation des caisses Desjardins du Quebec lifted its stake in 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 valued at $27,000 after buying an additional 1,650 shares in the last quarter. Arax Advisory Partners purchased a new position in shares of Companhia Paranaense de Energia – Copel in the fourth quarter worth approximately $45,000. Farther Finance Advisors LLC increased its position in shares of Companhia Paranaense de Energia – Copel by 8,715.5% in the fourth quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company’s stock worth $49,000 after acquiring an additional 5,055 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Companhia Paranaense de Energia – Copel in the fourth quarter worth approximately $49,000. Finally, EverSource Wealth Advisors LLC raised its holdings 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 valued at $57,000 after acquiring an additional 4,134 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELPC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Monday, April 20th. Wall Street Zen downgraded Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.