Companhia Paranaense de Energia – COPEL (NYSE:ELP) Shares Down 7.3%

Companhia Paranaense de Energia – COPEL (NYSE:ELP) shares dropped 7.3% during trading on Thursday . The company traded as low as $7.00 and last traded at $7.01. Approximately 75,375 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 399,411 shares. The stock had previously closed at $7.56.

Companhia Paranaense de Energia – COPEL Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.47. The company has a 50 day simple moving average of $7.64 and a 200-day simple moving average of $7.76.

Companhia Paranaense de Energia – COPEL Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.031 per share. The ex-dividend date is Thursday, May 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Companhia Paranaense de Energia – COPEL by 46.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,729 shares of the utilities provider’s stock worth $296,000 after buying an additional 10,667 shares during the period. Signaturefd LLC lifted its stake in shares of Companhia Paranaense de Energia – COPEL by 23.8% in the 3rd quarter. Signaturefd LLC now owns 9,394 shares of the utilities provider’s stock valued at $82,000 after purchasing an additional 1,809 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Companhia Paranaense de Energia – COPEL in the 3rd quarter worth about $277,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Companhia Paranaense de Energia – COPEL by 3.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 35,252 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 1,144 shares during the last quarter. Finally, Clear Street Markets LLC bought a new position in Companhia Paranaense de Energia – COPEL in the 3rd quarter valued at $32,000. 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.