Companhia Paranaense de Energia – COPEL (NYSE:ELP) Shares Gap Up – Should You Buy?

Companhia Paranaense de Energia – COPEL (NYSE:ELP) shares gapped up prior to trading on Monday . The stock had previously closed at $6.46, but opened at $6.68. Companhia Paranaense de Energia – COPEL shares last traded at $6.67, with a volume of 10,433 shares traded.

Companhia Paranaense de Energia – COPEL Price Performance

The business’s 50 day simple moving average is $7.34 and its 200 day simple moving average is $7.25. The company has a quick ratio of 1.55, a current ratio of 1.57 and a debt-to-equity ratio of 0.55.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $1.05 billion during the quarter. Companhia Paranaense de Energia – COPEL had a return on equity of 9.07% and a net margin of 10.87%.

Companhia Paranaense de Energia – COPEL Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Monday, December 9th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.0705 per share. The ex-dividend date of this dividend is Wednesday, October 2nd.

Institutional Investors Weigh In On Companhia Paranaense de Energia – COPEL

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its holdings in Companhia Paranaense de Energia – COPEL by 20.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,550,046 shares of the utilities provider’s stock valued at $11,532,000 after purchasing an additional 258,198 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Companhia Paranaense de Energia – COPEL by 222.9% during the second quarter. Van ECK Associates Corp now owns 266,788 shares of the utilities provider’s stock valued at $1,784,000 after buying an additional 184,167 shares during the last quarter. Trium Capital LLP raised its holdings in shares of Companhia Paranaense de Energia – COPEL by 36.0% in the third quarter. Trium Capital LLP now owns 130,919 shares of the utilities provider’s stock worth $974,000 after buying an additional 34,643 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Companhia Paranaense de Energia – COPEL by 11.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,216 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 7,540 shares during the period. Finally, Creative Planning boosted its stake in shares of Companhia Paranaense de Energia – COPEL by 13.3% during the third quarter. Creative Planning now owns 65,614 shares of the utilities provider’s stock valued at $488,000 after purchasing an additional 7,690 shares during the period. Hedge funds and other institutional investors own 3.80% of the company’s stock.

Companhia Paranaense de Energia – COPEL Company Profile

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.