Principal Financial Group Inc. bought a new stake in shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,235 shares of the company’s stock, valued at approximately $540,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of ELPC. Robeco Institutional Asset Management B.V. boosted its position in shares of Companhia Paranaense de Energia – Copel by 288.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 653,418 shares of the company’s stock valued at $6,214,000 after acquiring an additional 485,063 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $921,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter worth approximately $848,000. Blue Trust Inc. increased its holdings in Companhia Paranaense de Energia – Copel by 2,635.1% during the 4th quarter. Blue Trust Inc. now owns 48,055 shares of the company’s stock worth $457,000 after acquiring an additional 46,298 shares during the period. Finally, Letko Brosseau & Associates Inc. increased its holdings in Companhia Paranaense de Energia – Copel by 10,965.8% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company’s stock worth $69,199,000 after acquiring an additional 7,210,646 shares during the period.
Insider Buying and Selling
In other news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total value of $95,520.60. Following the transaction, the director owned 63,546 shares of the company’s stock, valued at $186,825.24. This represents a 33.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Companhia Paranaense de Energia – Copel Trading Down 0.6%
Companhia Paranaense de Energia – Copel (NYSE:ELPC – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, analysts predict that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.7 earnings per share for the current year.
Companhia Paranaense de Energia – Copel Announces Dividend
The business also recently declared a special dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Friday, May 1st will be paid a $0.1904 dividend. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is currently 105.26%.
Wall Street Analyst Weigh In
ELPC has been the subject of several analyst reports. Wall Street Zen downgraded shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Companhia Paranaense de Energia – Copel has an average rating of “Moderate Buy” and an average target price of $10.40.
Read Our Latest Analysis on ELPC
About Companhia Paranaense de Energia – Copel
Companhia Paranaense de Energia – Copel is a Brazilian utility company primarily engaged in the generation, transmission and distribution of electricity. Established in 1954, Copel operates a diversified portfolio of power plants, with a strong emphasis on hydroelectric facilities supplemented by thermal and renewable energy sources. The company’s integrated network spans the entirety of Paraná state, delivering electricity services to residential, commercial and industrial customers through a combination of high-voltage transmission lines and local distribution networks.
In addition to its core power business, Copel has expanded into telecommunications through its Copel Telecom subsidiary.
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