Letko Brosseau & Associates Inc. Sells 680,125 Shares of Companhia Paranaense de Energia (NYSE:ELP)

Letko Brosseau & Associates Inc. decreased its holdings in shares of Companhia Paranaense de Energia (NYSE:ELP) by 12.8% during the second quarter, HoldingsChannel reports. The fund owned 4,624,235 shares of the utilities provider’s stock after selling 680,125 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Companhia Paranaense de Energia were worth $58,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ELP. Advisor Group Inc. grew its position in shares of Companhia Paranaense de Energia by 98.1% during the 2nd quarter. Advisor Group Inc. now owns 3,445 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 1,706 shares in the last quarter. Advisors Preferred LLC grew its position in shares of Companhia Paranaense de Energia by 211.7% during the 1st quarter. Advisors Preferred LLC now owns 18,315 shares of the utilities provider’s stock valued at $170,000 after purchasing an additional 12,440 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Companhia Paranaense de Energia during the 4th quarter valued at $327,000. Marshall Wace North America L.P. purchased a new position in shares of Companhia Paranaense de Energia during the 1st quarter valued at $395,000. Finally, US Bancorp DE grew its position in shares of Companhia Paranaense de Energia by 4,778.8% during the 1st quarter. US Bancorp DE now owns 77,817 shares of the utilities provider’s stock valued at $723,000 after purchasing an additional 76,222 shares in the last quarter. 0.64% of the stock is currently owned by institutional investors and hedge funds.

ELP has been the subject of a number of recent analyst reports. UBS Group upgraded shares of Companhia Paranaense de Energia from a “neutral” rating to a “buy” rating in a research report on Friday, May 3rd. Standpoint Research lowered shares of Companhia Paranaense de Energia from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Bank of America upgraded shares of Companhia Paranaense de Energia from an “underperform” rating to a “neutral” rating in a research report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold”.

Shares of ELP traded down $0.14 during mid-day trading on Thursday, reaching $12.28. 37,208 shares of the stock traded hands, compared to its average volume of 465,012. The business has a fifty day simple moving average of $12.84. The firm has a market cap of $3.49 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.55. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Companhia Paranaense de Energia has a 1 year low of $4.70 and a 1 year high of $13.73.

Companhia Paranaense de Energia (NYSE:ELP) last released its quarterly earnings results on Wednesday, May 15th. The utilities provider reported $0.48 EPS for the quarter. Companhia Paranaense de Energia had a net margin of 10.21% and a return on equity of 9.49%. The firm had revenue of $1.03 billion during the quarter. Equities analysts anticipate that Companhia Paranaense de Energia will post 1.56 EPS for the current fiscal year.

Companhia Paranaense de Energia Profile

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.

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

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