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

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 382,079 shares, a decline of 37.4% from the June 15th total of 610,117 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 391,035 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total value of $95,520.60. Following the completion of the sale, the director owned 63,546 shares in the company, valued at $186,825.24. This represents a 33.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Companhia Paranaense de Energia – Copel by 22.3% during the 2nd quarter. GAMMA Investing LLC now owns 14,186 shares of the company’s stock worth $165,000 after purchasing an additional 2,586 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 1,379 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Companhia Paranaense de Energia – Copel by 27.1% in the 1st quarter. Quantinno Capital Management LP now owns 394,375 shares of the company’s stock valued at $4,709,000 after buying an additional 84,121 shares during the period. Sei Investments Co. boosted its stake in shares of Companhia Paranaense de Energia – Copel by 8.8% in the first quarter. Sei Investments Co. now owns 71,314 shares of the company’s stock valued at $852,000 after buying an additional 5,787 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the first quarter valued at approximately $540,000.

Companhia Paranaense de Energia – Copel Price Performance

NYSE:ELPC opened at $11.58 on Friday. The firm’s fifty day moving average price is $11.64 and its 200 day moving average price is $11.36. Companhia Paranaense de Energia – Copel has a 1-year low of $7.53 and a 1-year high of $13.70. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 0.87 and a beta of -0.07.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, analysts expect that Companhia Paranaense de Energia – Copel will post 0.78 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st will be paid a dividend of $0.1904 per share. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is 105.26%.

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.