Companhia Paranaense de Energia – Copel (NYSE:ELPC) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

by · The Markets Daily

Companhia Paranaense de Energia – Copel (NYSE:ELPC – Get Free Report) released its quarterly earnings results on Friday. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03, Zacks reports. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $4.52 billion.

Companhia Paranaense de Energia – Copel Trading Down 1.2%

Companhia Paranaense de Energia – Copel stock traded down $0.14 during midday trading on Friday, hitting $11.56. 390,903 shares of the stock were exchanged, compared to its average volume of 230,094. The stock’s 50-day simple moving average is $10.03 and its 200 day simple moving average is $9.45. Companhia Paranaense de Energia – Copel has a fifty-two week low of $5.49 and a fifty-two week high of $11.76. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 3.07 and a beta of 0.02.

Companhia Paranaense de Energia – Copel Announces Dividend

The company also recently declared a special dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, January 5th will be given a dividend of $0.3299 per share. The ex-dividend date of this dividend is Monday, January 5th. Companhia Paranaense de Energia – Copel’s payout ratio is presently 135.29%.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELPC. Federation des caisses Desjardins du Quebec grew its holdings in shares of Companhia Paranaense de Energia – Copel by 143.5% during the 4th 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. Arax Advisory Partners acquired a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $45,000. Atlas Capital Advisors Inc. acquired a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $49,000. Parallel Advisors LLC boosted its stake in Companhia Paranaense de Energia – Copel by 491.2% during the fourth quarter. Parallel Advisors LLC now owns 6,237 shares of the company’s stock worth $59,000 after buying an additional 5,182 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter valued at about $71,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on ELPC shares. Zacks Research upgraded shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. Wall Street Zen raised Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Saturday, February 7th. Scotiabank upgraded Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group began coverage on Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 28th. They set a “buy” rating and a $10.40 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Check Out Our Latest Report on Companhia Paranaense de Energia – Copel

Companhia Paranaense de Energia – Copel Company Profile

(Get Free Report)

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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