Companhia Paranaense de Energia – COPEL (NYSE:ELP) Shares Gap Up to $6.93

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s share price gapped up before the market opened on Friday . The stock had previously closed at $6.93, but opened at $7.12. Companhia Paranaense de Energia – COPEL shares last traded at $7.14, with a volume of 11,420 shares.

Companhia Paranaense de Energia – COPEL Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.37 and a current ratio of 1.39. The business has a 50 day moving average of $7.09 and a 200 day moving average of $7.67.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last posted its earnings results on Thursday, May 9th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter. Companhia Paranaense de Energia – COPEL had a return on equity of 8.72% and a net margin of 10.17%. The firm had revenue of $1.09 billion during the quarter. As a group, equities research analysts anticipate that Companhia Paranaense de Energia – COPEL will post 0.13 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – COPEL Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, May 3rd will be paid a $0.031 dividend. The ex-dividend date of this dividend is Thursday, May 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELP. Vinland Capital Management Gestora de Recursos LTDA. bought a new stake in shares of Companhia Paranaense de Energia – COPEL in the fourth quarter valued at about $25,163,000. SPX Gestao de Recursos Ltda lifted its holdings in shares of Companhia Paranaense de Energia – COPEL by 19.2% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 1,805,325 shares of the utilities provider’s stock valued at $15,309,000 after purchasing an additional 291,177 shares in the last quarter. Dorsey Wright & Associates bought a new stake in shares of Companhia Paranaense de Energia – COPEL in the fourth quarter valued at about $1,095,000. Capital Wealth Planning LLC bought a new stake in shares of Companhia Paranaense de Energia – COPEL in the fourth quarter valued at about $1,035,000. Finally, Hsbc Holdings PLC bought a new stake in Companhia Paranaense de Energia – COPEL during the fourth quarter worth about $667,000. 3.80% of the stock is owned by institutional investors and hedge funds.

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.