Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Shares Cross Above 200 Day Moving Average – What’s Next?

Companhia Paranaense de Energia (COPEL) (NYSE:ELP) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.55 and traded as high as $9.65. Companhia Paranaense de Energia (COPEL) shares last traded at $9.2950, with a volume of 755,876 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia (COPEL) in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Companhia Paranaense de Energia (COPEL) currently has a consensus rating of “Hold”.

Companhia Paranaense de Energia (COPEL) Price Performance

The company has a quick ratio of 1.42, a current ratio of 1.43 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average price is $9.81 and its 200 day moving average price is $9.55. The stock has a market cap of $5.53 billion, a PE ratio of 77.46, a P/E/G ratio of 3.40 and a beta of 0.76.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP) last posted its earnings results on Thursday, November 13th. The utilities provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $972.33 million. Companhia Paranaense de Energia (COPEL) had a net margin of 8.66% and a return on equity of 7.77%. As a group, equities analysts expect that Companhia Paranaense de Energia will post 0.12 EPS for the current fiscal year.

Companhia Paranaense de Energia (COPEL) Announces Dividend

The company also recently announced a special dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th were issued a $0.5732 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. Companhia Paranaense de Energia (COPEL)’s payout ratio is 208.33%.

Hedge Funds Weigh In On Companhia Paranaense de Energia (COPEL)

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Companhia Paranaense de Energia (COPEL) by 279.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,318 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 3,179 shares in the last quarter. Banque Cantonale Vaudoise increased its position in Companhia Paranaense de Energia (COPEL) by 65.4% in the third quarter. Banque Cantonale Vaudoise now owns 7,987 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 3,159 shares during the last quarter. PFG Investments LLC purchased a new stake in Companhia Paranaense de Energia (COPEL) during the second quarter valued at $93,000. JPMorgan Chase & Co. raised its stake in Companhia Paranaense de Energia (COPEL) by 4,094.6% during the second quarter. JPMorgan Chase & Co. now owns 10,151 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 9,909 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Companhia Paranaense de Energia (COPEL) by 40.7% during the second quarter. GAMMA Investing LLC now owns 10,968 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 3,173 shares during the last quarter. Hedge funds and other institutional investors own 3.80% of the company’s stock.

About Companhia Paranaense de Energia (COPEL)

Companhia Paranaense de Energia (COPEL) is a leading integrated electric utility based in the state of Paraná, Brazil. Established in 1954 and headquartered in Curitiba, COPEL operates across the full value chain of the power sector, including generation, transmission, distribution and commercialization of electricity. The company’s operations are organized to serve residential, commercial, industrial and rural customers, making COPEL one of the primary energy providers in southern Brazil.

In its generation portfolio, COPEL leverages a diverse mix of hydroelectric, thermal and renewable resources.