Companhia Paranaense de Energia – COPEL (NYSE:ELP) Sees Strong Trading Volume – Here’s What Happened

Shares of Companhia Paranaense de Energia – COPEL (NYSE:ELP) saw unusually-high trading volume on Wednesday . Approximately 201,765 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 299,602 shares.The stock last traded at $6.40 and had previously closed at $6.48.

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 stock’s 50-day moving average is $7.21 and its 200 day moving average is $7.23.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.07 EPS for the quarter. Companhia Paranaense de Energia – COPEL had a net margin of 14.20% and a return on equity of 11.88%. The business had revenue of $1.03 billion during the quarter. As a group, sell-side analysts forecast that Companhia Paranaense de Energia – COPEL will post 0.13 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – COPEL Cuts Dividend

The business also recently announced a Variable dividend, which will be paid on Monday, December 9th. Investors of record on Wednesday, October 2nd will be paid a $0.0705 dividend. The ex-dividend date is Wednesday, October 2nd.

Hedge Funds Weigh In On Companhia Paranaense de Energia – COPEL

A number of large investors have recently modified their holdings of ELP. Dynamic Technology Lab Private Ltd bought a new stake in shares of Companhia Paranaense de Energia – COPEL during the third quarter worth $171,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Companhia Paranaense de Energia – COPEL during the third quarter valued at about $514,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Companhia Paranaense de Energia – COPEL by 20.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,550,046 shares of the utilities provider’s stock valued at $11,532,000 after purchasing an additional 258,198 shares during the period. Ballentine Partners LLC raised its holdings in shares of Companhia Paranaense de Energia – COPEL by 16.6% during the third quarter. Ballentine Partners LLC now owns 17,128 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 2,441 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Companhia Paranaense de Energia – COPEL by 12.6% during the third quarter. Signaturefd LLC now owns 12,929 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 1,451 shares during the period. 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.