Short Interest in Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) Drops By 61.0%

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 679,608 shares, a decrease of 61.0% from the May 14th total of 1,744,070 shares. Based on an average daily trading volume, of 438,085 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.1% of the company’s shares are short sold.

Insider Transactions at Companhia Paranaense de Energia – Copel

In other Companhia Paranaense de Energia – Copel 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 transaction of $490,303.00. Following the completion of the sale, the director owned 74,844 shares in the company, valued at approximately $238,752.36. The trade was a 67.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

A number of large 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% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company’s stock valued at $27,000 after acquiring an additional 1,650 shares in the last quarter. Arax Advisory Partners bought a new position in shares of Companhia Paranaense de Energia – Copel in the 4th quarter valued at about $45,000. Farther Finance Advisors LLC grew its holdings in shares of Companhia Paranaense de Energia – Copel by 8,715.5% in the 4th quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company’s stock valued at $49,000 after acquiring an additional 5,055 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Companhia Paranaense de Energia – Copel in the 4th quarter valued at about $49,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Companhia Paranaense de Energia – Copel by 222.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,994 shares of the company’s stock valued at $57,000 after acquiring an additional 4,134 shares in the last quarter.

Companhia Paranaense de Energia – Copel Price Performance

ELPC stock traded up $0.21 during trading hours on Friday, reaching $11.60. 344,312 shares of the stock were exchanged, compared to its average volume of 330,653. The firm’s 50-day moving average is $12.31 and its 200-day moving average is $11.03. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.97 and a beta of -0.07. Companhia Paranaense de Energia – Copel has a 12 month low of $7.32 and a 12 month high of $13.70.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts forecast that Companhia Paranaense de Energia – Copel will post 0.74 earnings per share for the current year.

Companhia Paranaense de Energia – Copel Announces Dividend

The company 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 dividend payout ratio is 101.75%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Monday, April 20th. Wall Street Zen cut shares of Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

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.