Companhia Paranaense de Energia – COPEL (NYSE:ELP) Shares Gap Up – What’s Next?

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.62, but opened at $7.03. Companhia Paranaense de Energia – COPEL shares last traded at $7.06, with a volume of 152,654 shares trading hands.

Companhia Paranaense de Energia – COPEL Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 1.43. The company has a 50-day simple moving average of $6.98 and a 200-day simple moving average of $7.18.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.07 EPS for the quarter. Companhia Paranaense de Energia – COPEL had a net margin of 14.20% and a return on equity of 11.88%. The firm had revenue of $1.03 billion for the quarter. As a group, sell-side analysts anticipate that Companhia Paranaense de Energia – COPEL will post 0.13 EPS for the current year.

Companhia Paranaense de Energia – COPEL Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its stake in Companhia Paranaense de Energia – COPEL by 20.0% in 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 acquiring an additional 258,198 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Companhia Paranaense de Energia – COPEL by 222.9% during the 2nd quarter. Van ECK Associates Corp now owns 266,788 shares of the utilities provider’s stock worth $1,784,000 after purchasing an additional 184,167 shares during the last quarter. Jane Street Group LLC grew its holdings in Companhia Paranaense de Energia – COPEL by 456.9% during the 3rd quarter. Jane Street Group LLC now owns 209,228 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 171,658 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Companhia Paranaense de Energia – COPEL during the third quarter worth $514,000. Finally, Marshall Wace LLP acquired a new position in shares of Companhia Paranaense de Energia – COPEL in the second quarter worth $281,000. Institutional investors and hedge funds own 3.80% of the company’s stock.

About Companhia Paranaense de Energia – COPEL

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.