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

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s share 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 trading hands.

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 company’s 50 day moving average price is $7.07 and its 200 day moving average price is $7.20.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last posted its quarterly earnings results 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. On average, equities analysts predict that Companhia Paranaense de Energia – COPEL will post 0.13 EPS for the current year.

Companhia Paranaense de Energia – COPEL Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Monday, December 9th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.0705 per share. The ex-dividend date is Wednesday, October 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Companhia Paranaense de Energia – COPEL in the third quarter worth about $34,000. GAMMA Investing LLC grew 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 valued at $40,000 after purchasing an additional 2,043 shares during the period. Signaturefd LLC increased its position in shares of Companhia Paranaense de Energia – COPEL by 41.1% in the second quarter. Signaturefd LLC now owns 11,478 shares of the utilities provider’s stock valued at $77,000 after buying an additional 3,341 shares in the last quarter. Blue Trust Inc. grew its stake in Companhia Paranaense de Energia – COPEL by 205.3% in the 2nd quarter. Blue Trust Inc. now owns 17,729 shares of the utilities provider’s stock valued at $119,000 after acquiring an additional 11,922 shares during the period. Finally, Ballentine Partners LLC increased its holdings in 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 acquiring an additional 2,441 shares in the last quarter. 3.80% of the stock is currently owned by hedge funds and other institutional investors.

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.