Companhia Paranaense de Energia - Copel (NYSE:ELPC) Announces Quarterly Earnings Results

Key Points

• Copel exceeded earnings expectations, reporting quarterly EPS of $0.16 versus the $0.14 analyst consensus estimate.
• The company declared a special dividend of $0.1904 per share, although its dividend payout ratio is elevated at 105.26%.
• Shares recently traded at $11.61, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $10.40; institutional investors, including Goldman Sachs, increased their positions.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) released its earnings results on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02, Zacks reports.

Companhia Paranaense de Energia - Copel Price Performance

Shares of NYSE:ELPC traded down $0.06 during trading on Wednesday, hitting $11.61. 393,646 shares of the company were exchanged, compared to its average volume of 349,509. Companhia Paranaense de Energia - Copel has a 52-week low of $8.00 and a 52-week high of $13.70. The stock has a 50 day moving average of $11.57 and a 200 day moving average of $11.60. The company has a market cap of $8.64 billion, a PE ratio of 20.36, a P/E/G ratio of 1.04 and a beta of -0.06.

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 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 is currently 105.26%.

Wall Street Analyst Weigh In

ELPC has been the subject of several recent research reports. Wall Street Zen lowered Companhia Paranaense de Energia - Copel from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a report on Friday, July 17th. One 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $10.40.

Insider Buying and Selling 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 on Tuesday, June 16th. The stock was sold at an average price of $2.94, for a total value of $95,520.60. Following the completion of the transaction, the director directly owned 63,546 shares in the company, valued at approximately $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 can be accessed through the SEC website.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new stake in shares of Companhia Paranaense de Energia - Copel during the fourth quarter valued at about $154,000. Goldman Sachs Group Inc. boosted its position in shares of Companhia Paranaense de Energia - Copel by 575.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company's stock valued at $10,259,000 after acquiring an additional 919,086 shares during the period. Parallel Advisors LLC boosted its position in shares of Companhia Paranaense de Energia - Copel by 491.2% in the fourth quarter. Parallel Advisors LLC now owns 6,237 shares of the company's stock valued at $59,000 after acquiring an additional 5,182 shares during the period. Syon Capital LLC purchased a new position in Companhia Paranaense de Energia - Copel during the fourth quarter valued at approximately $219,000. Finally, Clearbridge Investments LLC purchased a new position in Companhia Paranaense de Energia - Copel during the fourth quarter valued at approximately $192,000.

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.

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