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 on Wednesday . The stock 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 company has a market cap of $8.52 billion, a PE ratio of 11.37 and a beta of -0.43. The company’s 50 day simple moving average is $6.86 and its two-hundred day simple moving average is $6.12.

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

Companhia Paranaense de Energia Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a dividend of $0.1172 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a dividend yield of 5.5%. Companhia Paranaense de Energia’s dividend payout ratio is presently 32.86%.

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 increased its position in shares of Companhia Paranaense de Energia (NYSE:ELPC) by 32.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,091 shares of the company’s stock after purchasing 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 quarter.

About Companhia Paranaense de Energia

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.