Companhia Paranaense de Energia – COPEL (NYSE:ELP) Shares Gap Down – Time to Sell?

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $6.65, but opened at $6.48. Companhia Paranaense de Energia – COPEL shares last traded at $6.51, with a volume of 9,619 shares.

Companhia Paranaense de Energia – COPEL Price Performance

The company has a 50 day moving average price of $7.02 and a 200-day moving average price of $7.19. The company has a quick ratio of 1.43, a current ratio of 1.45 and a debt-to-equity ratio of 0.51.

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

Companhia Paranaense de Energia – COPEL Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Monday, December 9th. Shareholders of record on Wednesday, October 2nd will be issued 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 institutional investors and hedge funds have recently made changes to their positions in ELP. Creative Planning lifted its stake in Companhia Paranaense de Energia – COPEL by 13.3% in the third quarter. Creative Planning now owns 65,614 shares of the utilities provider’s stock valued at $488,000 after buying an additional 7,690 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of 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 acquiring an additional 258,198 shares during the period. GAMMA Investing LLC lifted its position in shares of Companhia Paranaense de Energia – COPEL by 61.2% during the 3rd quarter. GAMMA Investing LLC now owns 5,380 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 2,043 shares during the period. Van ECK Associates Corp boosted its stake in 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 worth $1,784,000 after acquiring an additional 184,167 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Companhia Paranaense de Energia – COPEL by 2.4% in the first quarter. Tidal Investments LLC now owns 59,189 shares of the utilities provider’s stock worth $457,000 after purchasing an additional 1,398 shares during the period. 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.