Companhia Paranaense de Energia - Copel (NYSE:ELPC) Sees Strong Trading Volume - Here's What Happened

Key Points

• Trading volume increased 45% to 620,729 shares, while Copel’s stock edged down to $11.166. The company has an $8.40 billion market capitalization and trades below its 50-day moving average of $12.52.
• Analyst sentiment remains positive but mixed, with one Strong Buy, one Buy and two Hold ratings. The stock carries a “Moderate Buy” consensus rating, though the average price target of $10.40 is below its reported trading price.
• Copel exceeded quarterly expectations, reporting $0.16 in earnings per share versus the $0.14 consensus and revenue of $1.18 billion. The company also paid a special $0.1904 dividend, with an 85.71% payout ratio.

Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Get Free Report) shares saw an uptick in trading volume on Tuesday. 620,729 shares traded hands during trading, an increase of 45% from the average daily volume of 428,653 shares. The stock last traded at $11.1660 and had previously closed at $11.19.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Companhia Paranaense de Energia - Copel from a "buy" rating to a "hold" rating in a report on Sunday, September 13th. Weiss Ratings restated a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research report on Thursday, October 15th. One 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. According to data from MarketBeat, Companhia Paranaense de Energia - Copel has an average rating of "Moderate Buy" and an average target price of $10.40.

Companhia Paranaense de Energia - Copel Stock Up 0.9%

The stock has a market capitalization of $8.40 billion, a PE ratio of 16.18, a PEG ratio of 1.69 and a beta of -0.10. The firm's fifty day moving average is $12.52 and its 200-day moving average is $11.73.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.17 billion. On average, analysts expect that Companhia Paranaense de Energia - Copel Unsponsored ADR will post 0.82 EPS for the current year.

Companhia Paranaense de Energia - Copel Announces Dividend

The firm also recently declared a special dividend, which was paid on Tuesday, October 13th. Investors of record on Friday, May 1st were paid a $0.1904 dividend. The ex-dividend date was Friday, May 1st. Companhia Paranaense de Energia - Copel's payout ratio is 85.71%.

Insider Buying and Selling at Companhia Paranaense de Energia - Copel

In related news, Director Pedro Sales sold 50,000 shares of the company's stock in a transaction on Monday, October 19th. The stock was sold at an average price of $3.48, for a total transaction of $174,000.00. Following the transaction, the director owned 24,844 shares of the company's stock, valued at $86,457.12. This represents a 66.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On Companhia Paranaense de Energia - Copel

A number of hedge funds and other institutional investors have recently bought and sold shares of ELPC. Quantinno Capital Management LP increased its holdings in shares of Companhia Paranaense de Energia - Copel by 27.1% in the 1st quarter. Quantinno Capital Management LP now owns 394,375 shares of the company's stock valued at $4,709,000 after purchasing an additional 84,121 shares in the last quarter. Hsbc Holdings PLC grew its position in Companhia Paranaense de Energia - Copel by 42.1% during the first quarter. Hsbc Holdings PLC now owns 258,536 shares of the company's stock worth $3,087,000 after buying an additional 76,653 shares during the period. Sei Investments Co. grew its position in Companhia Paranaense de Energia - Copel by 8.8% during the first quarter. Sei Investments Co. now owns 71,314 shares of the company's stock worth $852,000 after buying an additional 5,787 shares during the period. Principal Financial Group Inc. purchased a new position in Companhia Paranaense de Energia - Copel in the first quarter valued at about $540,000. Finally, NewEdge Advisors LLC increased its holdings in Companhia Paranaense de Energia - Copel by 16,094.0% in the second quarter. NewEdge Advisors LLC now owns 40,323 shares of the company's stock valued at $470,000 after buying an additional 40,074 shares in the last quarter.

Companhia Paranaense de Energia - Copel Company Profile

Companhia Paranaense de Energia, known as Copel, is a Brazilian energy and telecommunications company headquartered in the state of Paraná. Founded in 1954, the company operates primarily in Brazil and has historically played a central role in the development of Paraná's electricity infrastructure.

Copel's principal activities include the generation, transmission and distribution of electricity. Its generation portfolio includes hydroelectric and wind power assets, while its transmission and distribution businesses deliver electricity to customers across Paraná.

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