Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Sees Large Volume Increase - Still a Buy?

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) shares saw strong trading volume on Tuesday . 757,929 shares traded hands during mid-day trading, an increase of 195% from the previous session's volume of 256,707 shares.The stock last traded at $8.45 and had previously closed at $8.54.

Companhia Paranaense de Energia (COPEL) Stock Down 0.9%

The business's 50-day moving average price is $8.84 and its 200-day moving average price is $7.77. The firm has a market capitalization of $5.00 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 6.80 and a beta of 0.77. The company has a quick ratio of 1.47, a current ratio of 1.48 and a debt-to-equity ratio of 0.60.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) last released its earnings results on Friday, May 9th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.12). The company had revenue of $856.71 million during the quarter, compared to analysts' expectations of $4.97 billion. Companhia Paranaense de Energia (COPEL) had a return on equity of 11.17% and a net margin of 12.67%. As a group, equities research analysts predict that Companhia Paranaense de Energia will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ELP. Letko Brosseau & Associates Inc. grew its stake in shares of Companhia Paranaense de Energia (COPEL) by 2.9% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 6,714,721 shares of the utilities provider's stock valued at $49,085,000 after buying an additional 190,026 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Companhia Paranaense de Energia (COPEL) by 176.6% during the 4th 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 last quarter. Marshall Wace LLP raised its holdings in shares of Companhia Paranaense de Energia (COPEL) by 1,056.3% during the 4th quarter. Marshall Wace LLP now owns 139,551 shares of the utilities provider's stock valued at $828,000 after purchasing an additional 127,482 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Companhia Paranaense de Energia (COPEL) by 59.9% in the 4th quarter. Millennium Management LLC now owns 297,678 shares of the utilities provider's stock valued at $1,765,000 after purchasing an additional 111,570 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Companhia Paranaense de Energia (COPEL) by 71.3% in 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 in the last quarter. 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.