Companhia Paranaense de Energia – COPEL (NYSE:ELP) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Companhia Paranaense de Energia – COPEL (NYSE:ELP) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.75 and traded as high as $7.41. Companhia Paranaense de Energia – COPEL shares last traded at $7.37, with a volume of 117,300 shares changing hands.

Companhia Paranaense de Energia – COPEL Stock Performance

The company has a quick ratio of 1.43, a current ratio of 1.45 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $6.73 and a 200-day simple moving average of $6.76. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 43.56 and a beta of 1.01.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last issued its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.23). 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, compared to analyst estimates of $657.55 million. As a group, equities research analysts expect that Companhia Paranaense de Energia – COPEL will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Companhia Paranaense de Energia – COPEL

A number of institutional investors have recently modified their holdings of ELP. Two Sigma Investments LP raised its position in shares of Companhia Paranaense de Energia – COPEL by 176.6% during the fourth quarter. Two Sigma Investments LP now owns 288,065 shares of the utilities provider’s stock worth $1,708,000 after purchasing an additional 183,936 shares during the period. Jane Street Group LLC raised its position in shares of Companhia Paranaense de Energia – COPEL by 456.9% during the third quarter. Jane Street Group LLC now owns 209,228 shares of the utilities provider’s stock worth $1,557,000 after purchasing an additional 171,658 shares during the period. Marshall Wace LLP raised its position in shares of Companhia Paranaense de Energia – COPEL by 1,056.3% during the fourth quarter. Marshall Wace LLP now owns 139,551 shares of the utilities provider’s stock worth $828,000 after purchasing an additional 127,482 shares during the period. Millennium Management LLC raised its position in shares of Companhia Paranaense de Energia – COPEL by 59.9% during the fourth quarter. Millennium Management LLC now owns 297,678 shares of the utilities provider’s stock worth $1,765,000 after purchasing an additional 111,570 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Companhia Paranaense de Energia – COPEL by 71.3% during the fourth quarter. Two Sigma Advisers LP now owns 257,020 shares of the utilities provider’s stock worth $1,524,000 after purchasing an additional 107,000 shares during the period. 3.80% of the stock is owned by institutional investors and hedge funds.

Companhia Paranaense de Energia – COPEL Company Profile

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.