Companhia Paranaense de Energia - Copel (NYSE:ELPC) Stock Breaks Below 200 Day Moving Average - What's Next?

Key Points

• Copel’s shares fell below their 200-day moving average, trading as low as $10.70 before closing at $11.185, compared with a 200-day average of $11.73.
• Analyst sentiment remains moderately positive, with an overall “Moderate Buy” rating, although one firm downgraded the stock to “Hold.” The consensus price target is $10.40, below the reported trading price.
• The company exceeded quarterly expectations, reporting $0.16 in earnings per share versus a $0.14 consensus estimate, and recently paid a special dividend of $0.1904 per share.

Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $11.73 and traded as low as $10.70. Companhia Paranaense de Energia - Copel shares last traded at $11.1850, with a volume of 4,718,353 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of 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 given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.40.

Companhia Paranaense de Energia - Copel Price Performance

The business has a fifty day moving average price of $12.52 and a two-hundred day moving average price of $11.73. The firm has a market cap of $8.32 billion, a PE ratio of 15.98, a P/E/G ratio of 1.69 and a beta of -0.10.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last issued its earnings results 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 analyst estimates of $1.17 billion. As a group, sell-side analysts forecast that Companhia Paranaense de Energia - Copel Unsponsored ADR will post 0.82 EPS for the current fiscal year.

Companhia Paranaense de Energia - Copel Announces Dividend

The business also recently announced a special dividend, which was paid on Tuesday, October 13th. Shareholders of record on Friday, May 1st were issued a dividend of $0.1904 per share. The ex-dividend date was Friday, May 1st. Companhia Paranaense de Energia - Copel's dividend payout ratio (DPR) is 85.71%.

Insider Activity at Companhia Paranaense de Energia - Copel

In other Companhia Paranaense de Energia - Copel news, Director Pedro Sales sold 50,000 shares of the stock in a transaction that occurred 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 in the company, valued at $86,457.12. This trade represents a 66.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Trading of Companhia Paranaense de Energia - Copel

Several hedge funds have recently added to or reduced their stakes in ELPC. EverSource Wealth Advisors LLC boosted its holdings in Companhia Paranaense de Energia - Copel by 23.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,373 shares of the company's stock valued at $88,000 after purchasing an additional 1,379 shares during the period. Corient Private Wealth LP acquired a new position in shares of Companhia Paranaense de Energia - Copel in the 2nd quarter valued at $120,000. Altar Rock LLC bought a new position in Companhia Paranaense de Energia - Copel during the second quarter worth about $121,000. Venturi Wealth Management LLC grew its stake in shares of Companhia Paranaense de Energia - Copel by 10.6% in the 1st quarter. Venturi Wealth Management LLC now owns 11,166 shares of the company's stock valued at $133,000 after purchasing an additional 1,068 shares during the period. Finally, QRG Capital Management Inc. acquired a new stake in Companhia Paranaense de Energia - Copel in the 1st quarter valued at $157,000.

About Companhia Paranaense de Energia - Copel

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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