Companhia Paranaense de Energia (NYSE:ELPC) Hits New 52-Week High – What’s Next?

Shares of Companhia Paranaense de Energia (NYSE:ELPC) hit a new 52-week high during trading on Wednesday . The company traded as high as $8.12 and last traded at $8.12, with a volume of 3677 shares traded. The stock had previously closed at $7.78.

Companhia Paranaense de Energia Price Performance

The business’s 50 day moving average is $6.86 and its 200 day moving average is $6.12. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 11.37 and a beta of -0.43.

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

Companhia Paranaense de Energia Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a $0.1172 dividend. This represents a dividend yield of 5.5%. The ex-dividend date is Monday, April 28th. Companhia Paranaense de Energia’s payout ratio is currently 32.86%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Companhia Paranaense de Energia stock. SPX Gestao de Recursos Ltda lifted its holdings in shares of Companhia Paranaense de Energia (NYSE:ELPC) by 32.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,091 shares of the company’s stock after acquiring an additional 16,780 shares during the period. SPX Gestao de Recursos Ltda’s holdings in Companhia Paranaense de Energia were worth $355,000 at the end of the most recent reporting period.

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.