Renaissance Technologies LLC Sells 271,633 Shares of Companhia Paranaense de Energia - Copel Unsponsored ADR $ELPC

Key Points

• Renaissance Technologies cut its ELPC position by 69.5% in the first quarter, selling 271,633 shares and retaining 119,359 shares valued at approximately $1.43 million.
• Copel reported quarterly earnings of $0.16 per share, exceeding the $0.14 analyst consensus, while revenue of $1.18 billion also slightly surpassed expectations.
• ELPC shares opened at $10.63 after falling 2%, while analysts maintained a “Moderate Buy” consensus with a $10.40 target price; the company also declared a special dividend of $0.1904 per share.

Renaissance Technologies LLC trimmed its position in Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Free Report) by 69.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 119,359 shares of the company's stock after selling 271,633 shares during the period. Renaissance Technologies LLC's holdings in Companhia Paranaense de Energia - Copel were worth $1,425,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in shares of Companhia Paranaense de Energia - Copel by 10.6% during the first quarter. Venturi Wealth Management LLC now owns 11,166 shares of the company's stock valued at $133,000 after acquiring an additional 1,068 shares during the period. Federation des caisses Desjardins du Quebec increased its position in Companhia Paranaense de Energia - Copel by 143.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company's stock worth $27,000 after purchasing an additional 1,650 shares during the period. Millennium Management LLC raised its holdings in Companhia Paranaense de Energia - Copel by 13.0% during the 4th quarter. Millennium Management LLC now owns 19,083 shares of the company's stock worth $181,000 after purchasing an additional 2,190 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Companhia Paranaense de Energia - Copel by 222.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,994 shares of the company's stock worth $57,000 after purchasing an additional 4,134 shares during the last quarter. Finally, Arax Advisory Partners acquired a new position in Companhia Paranaense de Energia - Copel during the 4th quarter valued at about $45,000.

Insider Transactions at Companhia Paranaense de Energia - Copel

In other Companhia Paranaense de Energia - Copel news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the stock in a transaction dated 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 sale, the director directly owned 63,546 shares in the company, valued at $186,825.24. This represents a 33.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Companhia Paranaense de Energia - Copel Trading Down 2.0%

Shares of ELPC opened at $10.63 on Thursday. The stock has a market cap of $7.91 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 1.32 and a beta of -0.06. Companhia Paranaense de Energia - Copel Unsponsored ADR has a 1 year low of $8.00 and a 1 year high of $13.70. The stock's 50-day moving average price is $11.54 and its two-hundred day moving average price is $11.66.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. As a group, equities analysts forecast that Companhia Paranaense de Energia - Copel Unsponsored ADR will post 0.82 EPS 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. Shareholders of record on Friday, May 1st will be issued a dividend of $0.1904 per share. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia - Copel's payout ratio is currently 85.71%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Companhia Paranaense de Energia - Copel from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research note on Friday, July 17th. One investment 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. According to data from MarketBeat.com, Companhia Paranaense de Energia - Copel has an average rating of "Moderate Buy" and a consensus target price of $10.40.

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.

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