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

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s stock price 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.

Companhia Paranaense de Energia – COPEL Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.55 and a current ratio of 1.57. The firm has a fifty day simple moving average of $7.30 and a 200 day simple moving average of $7.25. The company has a market capitalization of $3.65 billion, a PE ratio of 13.33 and a beta of 1.03.

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

Companhia Paranaense de Energia – COPEL Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Monday, December 9th. Stockholders of record on Wednesday, October 2nd will be given a $0.0705 dividend. The ex-dividend date is Wednesday, October 2nd. Companhia Paranaense de Energia – COPEL’s payout ratio is presently 14.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ELP. Robeco Institutional Asset Management B.V. lifted its position in Companhia Paranaense de Energia – COPEL by 20.0% during the third 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 grew its stake in 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 buying an additional 184,167 shares during the last quarter. Trium Capital LLP increased its position in Companhia Paranaense de Energia – COPEL by 36.0% during the 3rd quarter. Trium Capital LLP now owns 130,919 shares of the utilities provider’s stock valued at $974,000 after buying an additional 34,643 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Companhia Paranaense de Energia – COPEL by 11.7% in the second quarter. The Manufacturers Life Insurance Company now owns 72,216 shares of the utilities provider’s stock valued at $483,000 after buying an additional 7,540 shares during the last quarter. Finally, Creative Planning boosted its holdings 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 worth $488,000 after acquiring an additional 7,690 shares in the last quarter. 3.80% of the stock is currently owned by hedge funds and other institutional investors.

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.