Companhia Paranaense de Energia – Copel (NYSE:ELPC) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) saw unusually-strong trading volume on Tuesday . Approximately 861,231 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ELPC shares. Zacks Research raised shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Monday, April 20th. Wall Street Zen downgraded Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group initiated coverage on Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They set a “buy” rating and a $10.40 price objective for the company. 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 company’s stock. According to MarketBeat, Companhia Paranaense de Energia – Copel presently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

The company has a market cap of $8.69 billion, a P/E ratio of 20.49, a PEG ratio of 0.99 and a beta of 0.06. The company has a fifty day moving average price of $12.28 and a two-hundred day moving average price of $10.83.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its quarterly earnings data 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.13 billion. Research analysts anticipate that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.74 EPS for the current year.

Companhia Paranaense de Energia – Copel Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st will be given a $0.1904 dividend. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is 101.75%.

Insider Activity at Companhia Paranaense de Energia – Copel

In other news, Director Pedro Franco Sales sold 153,700 shares of Companhia Paranaense de Energia – Copel stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $3.19, for a total value of $490,303.00. Following the completion of the transaction, the director owned 74,844 shares of the company’s stock, valued at $238,752.36. This trade represents a 67.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. raised its stake in Companhia Paranaense de Energia – Copel by 4.0% in the third quarter. Optiver Holding B.V. now owns 299,739 shares of the company’s stock valued at $2,686,000 after buying an additional 11,611 shares during the period. GAMMA Investing LLC raised its stake in Companhia Paranaense de Energia – Copel by 35,238.9% in the fourth quarter. GAMMA Investing LLC now owns 12,722 shares of the company’s stock valued at $121,000 after buying an additional 12,686 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in Companhia Paranaense de Energia – Copel during the fourth quarter worth $921,000. Blue Trust Inc. boosted its position in Companhia Paranaense de Energia – Copel by 2,635.1% during the fourth quarter. Blue Trust Inc. now owns 48,055 shares of the company’s stock worth $457,000 after purchasing an additional 46,298 shares during the period. Finally, Perpetual Ltd bought a new position in Companhia Paranaense de Energia – Copel during the fourth quarter worth $276,000.

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.