Companhia Paranaense de Energia – COPEL (NYSE:ELP) Shares Gap Up – Here’s Why

Companhia Paranaense de Energia – COPEL (NYSE:ELP)’s share price gapped up before the market opened 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.

Companhia Paranaense de Energia – COPEL Stock Performance

The company’s 50 day simple moving average is $6.22 and its 200-day simple moving average is $6.84. The company has a current ratio of 1.45, a quick ratio of 1.43 and a debt-to-equity ratio of 0.51.

Companhia Paranaense de Energia – COPEL Cuts Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Companhia Paranaense de Energia – COPEL in the fourth quarter valued at $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Companhia Paranaense de Energia – COPEL in the 3rd quarter worth about $34,000. GAMMA Investing LLC grew its holdings in Companhia Paranaense de Energia – COPEL by 61.2% in the 3rd quarter. GAMMA Investing LLC now owns 5,380 shares of the utilities provider’s stock valued at $40,000 after buying an additional 2,043 shares during the period. PNC Financial Services Group Inc. increased its stake 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 last quarter. Finally, First Affirmative Financial Network acquired a new position in shares of Companhia Paranaense de Energia – COPEL during the 4th quarter valued at about $64,000. 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.