Companhia Paranaense de Energia – COPEL (NYSE:ELP) Stock Price Down 4.6% – What’s Next?

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s share price traded down 4.6% on Wednesday . The company traded as low as $6.68 and last traded at $6.69. 228,185 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 300,059 shares. The stock had previously closed at $7.01.

Companhia Paranaense de Energia – COPEL Stock Performance

The business’s 50 day simple moving average is $6.98 and its two-hundred day simple moving average is $7.18. 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 released 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 net margin of 14.20% and a return on equity of 11.88%. The firm had revenue of $1.03 billion for the quarter. Equities research 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 company also recently declared 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 of this dividend is Wednesday, October 2nd.

Institutional Trading of Companhia Paranaense de Energia – COPEL

Several hedge funds have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. raised its position in Companhia Paranaense de Energia – COPEL by 20.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,550,046 shares of the utilities provider’s stock worth $11,532,000 after acquiring an additional 258,198 shares during the period. Van ECK Associates Corp raised its position in Companhia Paranaense de Energia – COPEL by 222.9% in 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 during the period. Jane Street Group LLC raised its position 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 acquiring an additional 171,658 shares during the period. Trium Capital LLP increased its stake in shares of Companhia Paranaense de Energia – COPEL by 36.0% in the third quarter. Trium Capital LLP now owns 130,919 shares of the utilities provider’s stock worth $974,000 after purchasing an additional 34,643 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of 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 worth $483,000 after purchasing an additional 7,540 shares in the last quarter. 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.