Companhia Paranaense de Energia - COPEL (NYSE:ELP) Shares Gap Up - Here's What Happened

Shares of Companhia Paranaense de Energia - COPEL (NYSE:ELP - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $6.46, but opened at $6.68. Companhia Paranaense de Energia - COPEL shares last traded at $6.67, with a volume of 10,433 shares trading hands.

Companhia Paranaense de Energia - COPEL Stock Up 3.6 %

The company has a current ratio of 1.57, a quick ratio of 1.55 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $7.34 and a two-hundred day simple moving average of $7.25.

Companhia Paranaense de Energia - COPEL (NYSE:ELP - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.03 earnings per share for the quarter. Companhia Paranaense de Energia - COPEL had a return on equity of 9.07% and a net margin of 10.87%. The company had revenue of $1.05 billion for the quarter.

Companhia Paranaense de Energia - COPEL Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its stake in shares of Companhia Paranaense de Energia - COPEL by 2.4% during the first quarter. Tidal Investments LLC now owns 59,189 shares of the utilities provider's stock worth $457,000 after acquiring an additional 1,398 shares during the last quarter. Signaturefd LLC increased its stake in Companhia Paranaense de Energia - COPEL by 12.6% during the 3rd 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Companhia Paranaense de Energia - COPEL by 61.2% in the third quarter. GAMMA Investing LLC now owns 5,380 shares of the utilities provider's stock worth $40,000 after buying an additional 2,043 shares during the last quarter. Ballentine Partners LLC grew 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 buying an additional 2,441 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Companhia Paranaense de Energia - COPEL by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,256 shares of the utilities provider's stock valued at $354,000 after acquiring an additional 4,667 shares during the period. 3.80% of the stock is 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.