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

Key Points

• Copel reported quarterly EPS of $999.00, far exceeding analysts' consensus of $0.16 by $998.84.
• The company declared a special dividend of $0.1904 per share payable Oct. 13 (ex-dividend May 1), with a reported payout ratio of 105.45%.
• Director Pedro Franco Sales sold 153,700 shares at an average price of $3.19, reducing his holding by 67.25%, indicating notable insider selling.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) posted its earnings results on Tuesday. The company reported $999.00 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $998.84, Zacks reports.

Companhia Paranaense de Energia - Copel Price Performance

Shares of NYSE:ELPC traded up $0.19 during mid-day trading on Tuesday, reaching $12.88. 121,403 shares of the company traded hands, compared to its average volume of 337,992. The firm has a market cap of $9.59 billion, a PE ratio of 23.42, a PEG ratio of 1.14 and a beta of 0.06. The company's 50 day moving average price is $12.11 and its 200-day moving average price is $10.61. Companhia Paranaense de Energia - Copel has a 52 week low of $7.32 and a 52 week high of $13.70.

Companhia Paranaense de Energia - Copel Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, May 1st will be paid a dividend of $0.1904 per share. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia - Copel's payout ratio is 105.45%.

Analyst Upgrades and Downgrades

ELPC has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Companhia Paranaense de Energia - Copel in a research report on Wednesday, January 28th. They issued a "buy" rating and a $10.40 target price for the company. Wall Street Zen raised shares of Companhia Paranaense de Energia - Copel from a "buy" rating to a "strong-buy" rating in a research report on Sunday, April 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research report on Monday, April 20th. Scotiabank upgraded Companhia Paranaense de Energia - Copel to a "strong-buy" rating in a research note on Friday, January 9th. Finally, Zacks Research upgraded Companhia Paranaense de Energia - Copel to a "hold" rating in a research note on Friday, January 30th. One 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 stock. According to data from MarketBeat, Companhia Paranaense de Energia - Copel currently has an average rating of "Moderate Buy" and an average target price of $10.40.

Insiders Place Their Bets

In related news, Director Pedro Franco Sales sold 153,700 shares of the company's stock in a transaction on 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 approximately $238,752.36. This represents a 67.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Companhia Paranaense de Energia - Copel by 575.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company's stock worth $10,259,000 after buying an additional 919,086 shares during the period. SPX Gestao de Recursos Ltda boosted its stake in Companhia Paranaense de Energia - Copel by 1,194.4% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company's stock worth $8,731,000 after purchasing an additional 847,198 shares during the period. Itau Unibanco Holding S.A. bought a new position in Companhia Paranaense de Energia - Copel in the 4th quarter worth approximately $3,935,000. Renaissance Technologies LLC bought a new position in Companhia Paranaense de Energia - Copel in the 4th quarter worth approximately $3,718,000. Finally, Dimensional Fund Advisors LP boosted its stake in Companhia Paranaense de Energia - Copel by 1,645.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 208,457 shares of the company's stock worth $1,981,000 after purchasing an additional 196,516 shares during the period.

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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