Companhia Paranaense de Energia – Copel (NYSE:ELPC) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) from a buy rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Trading Down 0.0%

ELPC stock opened at $11.72 on Friday. The stock’s 50 day simple moving average is $11.58 and its 200 day simple moving average is $11.56. Companhia Paranaense de Energia – Copel has a 12-month low of $7.94 and a 12-month high of $13.70. The stock has a market capitalization of $8.73 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.04 and a beta of -0.07.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its quarterly earnings results 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 analysts’ expectations of $1.13 billion. On average, research analysts predict that Companhia Paranaense de Energia – Copel will post 0.7 earnings per share for the current year.

Companhia Paranaense de Energia – Copel Dividend Announcement

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

Insider Transactions at Companhia Paranaense de Energia – Copel

In other news, Director Abreu Marco Antonio Villela De sold 32,490 shares of Companhia Paranaense de Energia – Copel stock in a transaction that occurred on Tuesday, June 16th. The shares were 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 in the company, valued at $186,825.24. This trade represents a 33.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

Institutional investors have recently added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. grew its holdings in Companhia Paranaense de Energia – Copel by 10,965.8% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company’s stock valued at $69,199,000 after purchasing an additional 7,210,646 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Companhia Paranaense de Energia – Copel by 575.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock valued at $10,259,000 after purchasing an additional 919,086 shares in the last quarter. SPX Gestao de Recursos Ltda raised its stake in Companhia Paranaense de Energia – Copel by 1,194.4% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock worth $8,731,000 after buying an additional 847,198 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Companhia Paranaense de Energia – Copel by 288.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 653,418 shares of the company’s stock worth $6,214,000 after buying an additional 485,063 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in Companhia Paranaense de Energia – Copel during the fourth quarter worth $3,935,000.

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.