Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Sets New 12-Month High - What's Next?

Key Points

• Companhia Paranaense de Energia (COPEL) reached a new 52-week high of $9.38 per share during mid-day trading, with the last trade recorded at $9.36.
• For the last quarter, COPEL reported $0.02 earnings per share, which was below analysts' expectations of $0.11, with revenues significantly lower than forecasted at $1.14 billion compared to an expected $4.72 billion.
• Institutional investors have shown increased interest in COPEL, with several firms boosting their stakes significantly during the second quarter, including PNC Financial Services which raised its position by 16.1%.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.38 and last traded at $9.36, with a volume of 21328 shares trading hands. The stock had previously closed at $9.22.

Companhia Paranaense de Energia (COPEL) Trading Up 0.7%

The firm's 50-day moving average price is $8.82 and its 200-day moving average price is $8.29. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company has a market cap of $5.53 billion, a P/E ratio of 54.70 and a beta of 0.83.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.09). Companhia Paranaense de Energia (COPEL) had a return on equity of 11.15% and a net margin of 12.77%.The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $4.72 billion. As a group, equities research analysts expect that Companhia Paranaense de Energia will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Companhia Paranaense de Energia (COPEL)

Several institutional investors have recently added to or reduced their stakes in ELP. Signaturefd LLC raised its holdings in Companhia Paranaense de Energia (COPEL) by 14.9% in the 2nd quarter. Signaturefd LLC now owns 15,509 shares of the utilities provider's stock worth $142,000 after purchasing an additional 2,016 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Companhia Paranaense de Energia (COPEL) by 16.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,923 shares of the utilities provider's stock valued at $173,000 after purchasing an additional 2,621 shares during the last quarter. Ethic Inc. boosted its holdings in shares of Companhia Paranaense de Energia (COPEL) by 7.4% during the 2nd quarter. Ethic Inc. now owns 39,022 shares of the utilities provider's stock valued at $348,000 after acquiring an additional 2,676 shares during the last quarter. Wealthstream Advisors Inc. boosted its holdings in shares of Companhia Paranaense de Energia (COPEL) by 29.8% during the 2nd quarter. Wealthstream Advisors Inc. now owns 13,590 shares of the utilities provider's stock valued at $124,000 after acquiring an additional 3,119 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Companhia Paranaense de Energia (COPEL) by 40.7% during the 2nd quarter. GAMMA Investing LLC now owns 10,968 shares of the utilities provider's stock valued at $100,000 after acquiring an additional 3,173 shares during the last quarter. Hedge funds and other institutional investors own 3.80% of the company's stock.

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.

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