Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) Sees Significant Drop in Short Interest

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 679,608 shares, a decline 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 short-interest ratio is currently 1.6 days. Currently, 0.1% of the shares of the stock are sold short.

Companhia Paranaense de Energia – Copel Trading Up 1.9%

Companhia Paranaense de Energia – Copel stock traded up $0.21 during mid-day trading on Friday, hitting $11.60. The company’s stock had a trading volume of 344,312 shares, compared to its average volume of 330,653. The firm has a market capitalization of $8.64 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 0.98 and a beta of -0.07. Companhia Paranaense de Energia – Copel has a 1 year low of $7.32 and a 1 year high of $13.70. The stock’s fifty day moving average is $12.31 and its two-hundred day moving average is $11.03.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, equities analysts expect that Companhia Paranaense de Energia – Copel will post 0.74 EPS for the current fiscal year.

Companhia Paranaense de Energia – Copel Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, May 1st will be given a $0.1904 dividend. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio is presently 101.75%.

Analysts Set New Price Targets

ELPC has been the topic of several analyst reports. Wall Street Zen lowered Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Monday, April 20th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Insider Activity

In other news, Director Pedro Franco Sales sold 153,700 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $3.19, for a total value of $490,303.00. Following the completion of the sale, the director directly owned 74,844 shares in the company, valued at $238,752.36. This represents a 67.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its stake in Companhia Paranaense de Energia – Copel by 10.6% during the first quarter. Venturi Wealth Management LLC now owns 11,166 shares of the company’s stock worth $133,000 after purchasing an additional 1,068 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Companhia Paranaense de Energia – Copel by 23.0% during the first quarter. EverSource Wealth Advisors LLC now owns 7,373 shares of the company’s stock worth $88,000 after purchasing an additional 1,379 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in Companhia Paranaense de Energia – Copel by 143.5% during the fourth 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 in the last quarter. Millennium Management LLC lifted its stake in Companhia Paranaense de Energia – Copel by 13.0% during the fourth quarter. Millennium Management LLC now owns 19,083 shares of the company’s stock worth $181,000 after purchasing an additional 2,190 shares in the last quarter. Finally, Arax Advisory Partners acquired a new position in Companhia Paranaense de Energia – Copel during the fourth quarter worth $45,000.

Companhia Paranaense de Energia – Copel Company Profile

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.