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

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.78, but opened at $7.03. Companhia Paranaense de Energia – COPEL shares last traded at $6.97, with a volume of 38,027 shares changing hands.

Companhia Paranaense de Energia – COPEL Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 1.43. The business has a 50-day moving average price of $6.22 and a two-hundred day moving average price of $6.84.

Companhia Paranaense de Energia – COPEL Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a dividend of $0.1441 per share. The ex-dividend date was Friday, December 13th.

Institutional Trading of Companhia Paranaense de Energia – COPEL

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new position in shares of Companhia Paranaense de Energia – COPEL during the 4th quarter worth approximately $190,000. JPMorgan Chase & Co. acquired a new stake in Companhia Paranaense de Energia – COPEL during the 4th quarter valued at $74,000. SPX Gestao de Recursos Ltda increased its position in Companhia Paranaense de Energia – COPEL by 8.8% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 1,030,320 shares of the utilities provider’s stock worth $6,110,000 after buying an additional 83,758 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Companhia Paranaense de Energia – COPEL by 78.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,754 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 3,849 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Companhia Paranaense de Energia – COPEL by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 85,929 shares of the utilities provider’s stock valued at $510,000 after acquiring an additional 6,036 shares in 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 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.