Investors Research Corp Reduces Stock Position in Companhia Paranaense de Energia (NYSE:ELP)

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Investors Research Corp decreased its position in shares of Companhia Paranaense de Energia (NYSE:ELP) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,875 shares of the utilities provider’s stock after selling 950 shares during the quarter. Companhia Paranaense de Energia makes up 1.1% of Investors Research Corp’s holdings, making the stock its largest holding. Investors Research Corp’s holdings in Companhia Paranaense de Energia were worth $2,069,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELP. Amundi Pioneer Asset Management Inc. increased its stake in Companhia Paranaense de Energia by 12.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 233,800 shares of the utilities provider’s stock valued at $2,170,000 after purchasing an additional 25,900 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Companhia Paranaense de Energia in the first quarter valued at approximately $395,000. Marshall Wace LLP boosted its stake in Companhia Paranaense de Energia by 227.9% in the first quarter. Marshall Wace LLP now owns 592,357 shares of the utilities provider’s stock valued at $5,498,000 after acquiring an additional 411,690 shares during the period. Acadian Asset Management LLC boosted its stake in Companhia Paranaense de Energia by 279.1% in the first quarter. Acadian Asset Management LLC now owns 110,070 shares of the utilities provider’s stock valued at $1,021,000 after acquiring an additional 81,035 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Companhia Paranaense de Energia by 114.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 192,324 shares of the utilities provider’s stock valued at $1,785,000 after acquiring an additional 102,824 shares during the period. 0.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ELP traded up $0.02 during midday trading on Tuesday, hitting $13.17. 418,900 shares of the company’s stock were exchanged, compared to its average volume of 476,976. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 0.99. The business’s 50 day moving average is $12.69. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 1.10 and a beta of 0.55. Companhia Paranaense de Energia has a twelve month low of $4.70 and a twelve month high of $13.73.

Companhia Paranaense de Energia (NYSE:ELP) last issued its quarterly earnings data on Wednesday, May 15th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter. The business had revenue of $1.03 billion during the quarter. Companhia Paranaense de Energia had a return on equity of 9.49% and a net margin of 10.21%. As a group, equities research analysts predict that Companhia Paranaense de Energia will post 1.56 earnings per share for the current fiscal year.

ELP has been the subject of a number of research reports. Bank of America set a $68.00 target price on Inphi and gave the company a “buy” rating in a research note on Monday, July 15th. UBS Group set a $125.00 target price on Caterpillar and gave the company a “sell” rating in a research note on Friday, May 3rd. Finally, Standpoint Research downgraded Companhia Paranaense de Energia from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold”.

About Companhia Paranaense de Energia

Companhia Paranaense de Energia – COPEL engages in the generation, transmission, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers primarily in the State of Paraná, Brazil. As of December 31, 2017, the company operated 17 hydroelectric plants, 12 wind plants, and 1 thermoelectric plant with a total installed capacity of 5,024.0 megawatts; and owned and operated 2,698.3 kilometers of transmission lines and 196,951.2 kilometers of distribution lines.

Further Reading: Buy-Side Analysts

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Institutional Ownership by Quarter for Companhia Paranaense de Energia (NYSE:ELP)

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