Companhia Paranaense de Energia (NYSE:ELPC) Sees Strong Trading Volume – Time to Buy?

Companhia Paranaense de Energia (NYSE:ELPC) shares saw an uptick in trading volume on Tuesday . 114,267 shares were traded during mid-day trading, an increase of 685% from the previous session’s volume of 14,562 shares.The stock last traded at $8.15 and had previously closed at $7.98.

Companhia Paranaense de Energia Stock Performance

The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 11.50 and a beta of -0.45. The business has a fifty day moving average of $7.15 and a two-hundred day moving average of $6.26.

Companhia Paranaense de Energia (NYSE:ELPC) last released its quarterly earnings results on Friday, May 9th. The company reported $0.15 earnings per share for the quarter. The firm had revenue of $1 billion during the quarter.

Companhia Paranaense de Energia Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th were issued a dividend of $0.1172 per share. This represents a yield of 5.5%. The ex-dividend date was Monday, April 28th. Companhia Paranaense de Energia’s dividend payout ratio (DPR) is presently 50.00%.

Hedge Funds Weigh In On Companhia Paranaense de Energia

An institutional investor recently raised its position in Companhia Paranaense de Energia stock. SPX Gestao de Recursos Ltda grew its stake in Companhia Paranaense de Energia (NYSE:ELPC) by 32.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,091 shares of the company’s stock after acquiring an additional 16,780 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in Companhia Paranaense de Energia were worth $355,000 at the end of the most recent quarter.

Companhia Paranaense de Energia 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, GAS, Power Sale, and Holding and Services segments.