Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Announces Quarterly Earnings Results

Companhia Paranaense de Energia (COPEL) (NYSE:ELP) announced its earnings results on Thursday. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02), Zacks reports. Companhia Paranaense de Energia (COPEL) had a return on equity of 11.15% and a net margin of 12.77%.The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $972.33 million.

Companhia Paranaense de Energia (COPEL) Stock Performance

ELP stock traded up $0.01 on Friday, reaching $10.90. The company’s stock had a trading volume of 241,570 shares, compared to its average volume of 236,977. Companhia Paranaense de Energia has a 52 week low of $5.72 and a 52 week high of $11.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 1.12. The company has a market capitalization of $6.49 billion, a P/E ratio of 64.09, a price-to-earnings-growth ratio of 4.17 and a beta of 0.83. The firm has a fifty day moving average of $9.84 and a two-hundred day moving average of $9.15.

Hedge Funds Weigh In On Companhia Paranaense de Energia (COPEL)

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in Companhia Paranaense de Energia (COPEL) by 97.7% in the second quarter. Bank of America Corp DE now owns 544,714 shares of the utilities provider’s stock valued at $4,973,000 after purchasing an additional 269,120 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Companhia Paranaense de Energia (COPEL) during the 2nd quarter valued at about $1,228,000. Brevan Howard Capital Management LP bought a new stake in shares of Companhia Paranaense de Energia (COPEL) in the 2nd quarter valued at approximately $768,000. Orion Porfolio Solutions LLC bought a new stake in Companhia Paranaense de Energia (COPEL) in the third quarter worth $697,000. Finally, Raymond James Financial Inc. boosted its holdings in Companhia Paranaense de Energia (COPEL) by 91.2% in the second quarter. Raymond James Financial Inc. now owns 108,577 shares of the utilities provider’s stock worth $991,000 after purchasing an additional 51,797 shares in the last quarter. Institutional investors and hedge funds own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia (COPEL) in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

About Companhia Paranaense de Energia (COPEL)

Companhia Paranaense de Energia – COPEL engages in the generation, transformation, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers in Brazil. The company operates through Power Generation and Transmission, Power Distribution, Power Sale, and Gas segments.