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

Companhia Paranaense de Energia (COPEL) (NYSE:ELP)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.46 and traded as high as $10.35. Companhia Paranaense de Energia (COPEL) shares last traded at $10.1350, with a volume of 471,710 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia (COPEL) in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Companhia Paranaense de Energia (COPEL) has an average rating of “Hold”.

Companhia Paranaense de Energia (COPEL) Stock Performance

The company has a market cap of $6.03 billion, a price-to-earnings ratio of 84.47, a PEG ratio of 3.88 and a beta of 0.76. The firm’s 50 day simple moving average is $10.27 and its 200-day simple moving average is $9.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 1.43.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP) last released its quarterly earnings data on Thursday, November 13th. The utilities provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $972.33 million. Companhia Paranaense de Energia (COPEL) had a net margin of 8.66% and a return on equity of 7.77%. On average, sell-side analysts predict that Companhia Paranaense de Energia will post 0.12 EPS for the current year.

Companhia Paranaense de Energia (COPEL) Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be paid a dividend of $0.5732 per share. The ex-dividend date of this dividend is Wednesday, December 24th. Companhia Paranaense de Energia (COPEL)’s dividend payout ratio (DPR) is 208.33%.

Institutional Investors Weigh In On Companhia Paranaense de Energia (COPEL)

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in Companhia Paranaense de Energia (COPEL) by 86.2% in the first quarter. PNC Financial Services Group Inc. now owns 16,302 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 7,548 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Companhia Paranaense de Energia (COPEL) by 27.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,449 shares of the utilities provider’s stock valued at $398,000 after acquiring an additional 11,765 shares in the last quarter. Brooklyn Investment Group lifted its stake in Companhia Paranaense de Energia (COPEL) by 315,600.0% in the first quarter. Brooklyn Investment Group now owns 6,314 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 6,312 shares during the last quarter. AQR Capital Management LLC lifted its stake in Companhia Paranaense de Energia (COPEL) by 7.9% in the first quarter. AQR Capital Management LLC now owns 49,609 shares of the utilities provider’s stock worth $363,000 after acquiring an additional 3,620 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Companhia Paranaense de Energia (COPEL) by 77.9% during the 1st quarter. Jane Street Group LLC now owns 21,208 shares of the utilities provider’s stock worth $155,000 after acquiring an additional 9,285 shares in the last quarter. 3.80% of the stock is currently owned by institutional investors and hedge funds.

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.