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

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.

Companhia Paranaense de Energia – COPEL Price Performance

The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 10.85 and a beta of 1.00. The business has a 50-day moving average price of $6.40 and a two-hundred day moving average price of $6.99. 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 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 business had revenue of $1.03 billion for the quarter. As a group, research analysts anticipate that Companhia Paranaense de Energia – COPEL will post 0.12 EPS for the current year.

Companhia Paranaense de Energia – COPEL Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.1441 per share. The ex-dividend date is Friday, December 13th. Companhia Paranaense de Energia – COPEL’s payout ratio is 31.48%.

Hedge Funds Weigh In On Companhia Paranaense de Energia – COPEL

Several hedge funds and other institutional investors have recently modified their holdings of ELP. Robeco Institutional Asset Management B.V. increased its position in 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 buying an additional 258,198 shares in the last quarter. Van ECK Associates Corp increased 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 valued at $1,784,000 after purchasing an additional 184,167 shares in the last quarter. Jane Street Group LLC raised its holdings in Companhia Paranaense de Energia – COPEL by 456.9% in the third quarter. Jane Street Group LLC now owns 209,228 shares of the utilities provider’s stock worth $1,557,000 after buying an additional 171,658 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Companhia Paranaense de Energia – COPEL during the third quarter valued at approximately $514,000. Finally, Marshall Wace LLP bought a new position in Companhia Paranaense de Energia – COPEL in the 2nd quarter valued at approximately $281,000. 3.80% of the stock is owned by 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.