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

Companhia Paranaense de Energia (COPEL) (NYSE:ELP)’s share price 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.

Analysts Set New Price Targets

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

Companhia Paranaense de Energia (COPEL) Price Performance

The firm has a market cap of $5.53 billion, a P/E ratio of 77.46, a PEG ratio of 3.40 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.43 and a quick ratio of 1.42. The stock’s 50-day simple moving average is $9.81 and its two-hundred day simple moving average is $9.55.

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

Companhia Paranaense de Energia (COPEL) Announces Dividend

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

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC increased its stake in Companhia Paranaense de Energia (COPEL) by 14.9% in the 2nd quarter. Signaturefd LLC now owns 15,509 shares of the utilities provider’s stock worth $142,000 after buying an additional 2,016 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Companhia Paranaense de Energia (COPEL) by 68.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,171 shares of the utilities provider’s stock valued at $129,000 after buying an additional 5,782 shares during the period. Creative Planning grew its stake in Companhia Paranaense de Energia (COPEL) by 18.4% in the 2nd quarter. Creative Planning now owns 121,104 shares of the utilities provider’s stock worth $1,106,000 after acquiring an additional 18,844 shares in the last quarter. Allworth Financial LP grew its stake in Companhia Paranaense de Energia (COPEL) by 6,683.1% in the 2nd quarter. Allworth Financial LP now owns 13,227 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 13,032 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Companhia Paranaense de Energia (COPEL) by 876.7% during the second quarter. Hantz Financial Services Inc. now owns 11,730 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 10,529 shares in the last quarter. 3.80% of the stock is currently owned by hedge funds and other institutional investors.

Companhia Paranaense de Energia (COPEL) Company Profile

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.