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

Companhia Paranaense de Energia – COPEL (NYSE:ELP) shares gapped up before the market opened on Thursday . The stock had previously closed at $7.41, but opened at $7.64. Companhia Paranaense de Energia – COPEL shares last traded at $7.77, with a volume of 22,698 shares trading hands.

Companhia Paranaense de Energia – COPEL Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.43 and a current ratio of 1.45. The business’s fifty day moving average price is $7.02 and its 200-day moving average price is $6.74. The stock has a market cap of $3.98 billion, a PE ratio of 42.82 and a beta of 0.71.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last posted its earnings results on Friday, February 28th. The utilities provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $657.55 million. Companhia Paranaense de Energia – COPEL had a return on equity of 11.88% and a net margin of 14.20%. As a group, equities research analysts forecast that Companhia Paranaense de Energia – COPEL will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ELP. R Squared Ltd bought a new position in shares of Companhia Paranaense de Energia – COPEL in the 4th quarter worth approximately $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Companhia Paranaense de Energia – COPEL during the 3rd quarter worth $34,000. PNC Financial Services Group Inc. grew its position in shares of Companhia Paranaense de Energia – COPEL by 78.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,754 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 3,849 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Companhia Paranaense de Energia – COPEL in the 4th quarter worth $56,000. Finally, First Affirmative Financial Network purchased a new position in Companhia Paranaense de Energia – COPEL during the fourth quarter valued at $64,000. 3.80% of the stock is 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.