Companhia Paranaense de Energia – COPEL (NYSE:ELP) Shares Gap Down – Here’s Why

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $5.93, but opened at $5.78. Companhia Paranaense de Energia – COPEL shares last traded at $5.84, with a volume of 37,663 shares traded.

Companhia Paranaense de Energia – COPEL Price Performance

The company has a current ratio of 1.45, a quick ratio of 1.43 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $6.36 and its two-hundred day moving average price is $6.98. The stock has a market cap of $3.17 billion, a P/E ratio of 10.72 and a beta of 1.00.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.07 earnings per share for the quarter. Companhia Paranaense de Energia – COPEL had a return on equity of 11.88% and a net margin of 14.20%. The business had revenue of $1.03 billion for the quarter. As a group, sell-side analysts expect that Companhia Paranaense de Energia – COPEL will post 0.12 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – COPEL Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a $0.1441 dividend. The ex-dividend date was Friday, December 13th. Companhia Paranaense de Energia – COPEL’s dividend payout ratio is presently 31.48%.

Hedge Funds Weigh In On Companhia Paranaense de Energia – COPEL

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Companhia Paranaense de Energia – COPEL in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC boosted its holdings in Companhia Paranaense de Energia – COPEL by 61.2% in the third quarter. GAMMA Investing LLC now owns 5,380 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 2,043 shares in the last quarter. Signaturefd LLC grew its stake in shares of Companhia Paranaense de Energia – COPEL by 12.6% in the third quarter. Signaturefd LLC now owns 12,929 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,451 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Companhia Paranaense de Energia – COPEL by 16.6% in the 3rd quarter. Ballentine Partners LLC now owns 17,128 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 2,441 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Companhia Paranaense de Energia – COPEL in the 3rd quarter worth about $135,000. Institutional investors 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.