Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) Shares Shorted: Short Interest Up 62.7% in September

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 999,219 shares, a growth of 62.7% from the September 15th total of 614,318 shares. Based on an average trading volume of 523,626 shares, the short-interest ratio is presently 1.9 days. Approximately 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ELPC. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Thursday. Wall Street Zen downgraded Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Trading Up 2.0%

Shares of NYSE ELPC traded up $0.28 during mid-day trading on Friday, reaching $13.96. 460,672 shares of the company’s stock were exchanged, compared to its average volume of 717,385. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.67 and a beta of -0.11. The business has a fifty day simple moving average of $12.24 and a 200 day simple moving average of $12.09. Companhia Paranaense de Energia – Copel has a twelve month low of $8.73 and a twelve month high of $14.51.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Equities research analysts predict that Companhia Paranaense de Energia – Copel will post 0.82 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – Copel Dividend Announcement

The business also recently announced a special dividend, which was paid on Tuesday, October 13th. Investors of record on Friday, May 1st were paid a $0.1904 dividend. The ex-dividend date of this dividend was Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio is presently 85.71%.

Institutional Trading of Companhia Paranaense de Energia – Copel

Several hedge funds and other institutional investors have recently modified their holdings of ELPC. GAMMA Investing LLC grew its stake in shares of Companhia Paranaense de Energia – Copel by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 17,265 shares of the company’s stock worth $214,000 after acquiring an additional 3,079 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Companhia Paranaense de Energia – Copel by 13.6% in the second quarter. QRG Capital Management Inc. now owns 14,961 shares of the company’s stock worth $174,000 after purchasing an additional 1,786 shares in the last quarter. Altar Rock LLC bought a new stake in shares of Companhia Paranaense de Energia – Copel in the second quarter worth $121,000. BlueCrest Capital Management Ltd acquired a new stake in Companhia Paranaense de Energia – Copel in the 2nd quarter valued at $291,000. Finally, Engineers Gate Manager LP acquired a new stake in Companhia Paranaense de Energia – Copel in the 2nd quarter valued at $173,000.

Companhia Paranaense de Energia – Copel Company Profile

Companhia Paranaense de Energia, known as Copel, is a Brazilian energy and infrastructure company headquartered in Curitiba, Paraná. Founded in 1954, the company operates primarily in the electricity sector and serves customers in the state of Paraná and other parts of Brazil through its portfolio of energy-related businesses.

Copel’s main activities include the generation, transmission, distribution and sale of electricity. Its generation portfolio includes hydroelectric and wind power assets, while its transmission and distribution operations support the delivery of electricity to residential, commercial and industrial customers.