Companhia Paranaense de Energia – COPEL (NYSE:ELP) Shares Gap Up – Still a Buy?

Companhia Paranaense de Energia – COPEL (NYSE:ELP) gapped up before the market opened on Thursday . The stock had previously closed at $7.41, but opened at $7.64. Companhia Paranaense de Energia – COPEL shares last traded at $7.77, with a volume of 22,698 shares.

Companhia Paranaense de Energia – COPEL Stock Performance

The firm’s 50 day simple moving average is $6.97 and its 200-day simple moving average is $6.73. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 45.12 and a beta of 0.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.43 and a current ratio of 1.45.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last announced its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $657.55 million. Companhia Paranaense de Energia – COPEL had a return on equity of 11.88% and a net margin of 14.20%. Analysts expect that Companhia Paranaense de Energia – COPEL will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ELP. Walleye Capital LLC purchased a new position in shares of Companhia Paranaense de Energia – COPEL during the 3rd quarter valued at $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Companhia Paranaense de Energia – COPEL during the third quarter valued at $34,000. Quantinno Capital Management LP boosted its position in Companhia Paranaense de Energia – COPEL by 33.1% during the third quarter. Quantinno Capital Management LP now owns 21,909 shares of the utilities provider’s stock valued at $163,000 after purchasing an additional 5,445 shares during the last quarter. Jane Street Group LLC grew its stake in Companhia Paranaense de Energia – COPEL by 456.9% in the third quarter. Jane Street Group LLC now owns 209,228 shares of the utilities provider’s stock valued at $1,557,000 after purchasing an additional 171,658 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Companhia Paranaense de Energia – COPEL by 18.3% during the 4th quarter. Ballentine Partners LLC now owns 20,268 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 3,140 shares in the last quarter. Institutional investors and hedge funds 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.