Mirae Asset Global Investments Co. Ltd. Buys New Shares in Companhia Paranaense de Energia - Copel Unsponsored ADR $ELPC

Key Points

• Mirae Asset bought a new stake of 89,128 shares of Companhia Paranaense de Energia - Copel (NYSE:ELPC) in Q4, valued at about $848,000, while other institutions including Robeco, Hennion & Walsh, Blue Trust and GAMMA also materially increased positions.
• Copel announced a special dividend of $0.1904 per share with an ex-dividend/record date of May 1 and payment scheduled for October 13, and the payout ratio stands at 105.45%.
• ELPC opened at $13.26 with a market cap around $9.87B and a P/E of 24.1; the company reported Q4 EPS of $0.11 (beating the $0.08 estimate) despite revenue below consensus, and analysts show a consensus rating of “Moderate Buy” with a $10.40 price target.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 89,128 shares of the company's stock, valued at approximately $848,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. purchased a new position in Companhia Paranaense de Energia - Copel in the fourth quarter valued at $921,000. Robeco Institutional Asset Management B.V. boosted its holdings in 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 purchasing an additional 485,063 shares during the period. Blue Trust Inc. boosted its holdings in Companhia Paranaense de Energia - Copel by 2,635.1% in the fourth quarter. Blue Trust Inc. now owns 48,055 shares of the company's stock valued at $457,000 after purchasing an additional 46,298 shares during the period. GAMMA Investing LLC boosted its holdings in Companhia Paranaense de Energia - Copel by 35,238.9% in the fourth quarter. GAMMA Investing LLC now owns 12,722 shares of the company's stock valued at $121,000 after purchasing an additional 12,686 shares during the period. Finally, Optiver Holding B.V. boosted its holdings in Companhia Paranaense de Energia - Copel by 4.0% in the third quarter. Optiver Holding B.V. now owns 299,739 shares of the company's stock valued at $2,686,000 after purchasing an additional 11,611 shares during the period.

Companhia Paranaense de Energia - Copel Stock Performance

ELPC opened at $13.26 on Friday. The business's 50-day simple moving average is $11.95 and its 200-day simple moving average is $10.46. Companhia Paranaense de Energia - Copel Unsponsored ADR has a one year low of $6.74 and a one year high of $13.70. The stock has a market capitalization of $9.87 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 4.25 and a beta of -0.11.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, equities research analysts forecast that Companhia Paranaense de Energia - Copel Unsponsored ADR will post 0.18 EPS for the current fiscal year.

Companhia Paranaense de Energia - Copel Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st will be given a dividend of $0.1904 per share. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia - Copel's payout ratio is 105.45%.

Insider Activity at Companhia Paranaense de Energia - Copel

In other news, Director Pedro Franco Sales sold 153,700 shares of Companhia Paranaense de Energia - Copel stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $3.19, for a total transaction of $490,303.00. Following the sale, the director owned 74,844 shares in the company, valued at approximately $238,752.36. The trade was a 67.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Companhia Paranaense de Energia - Copel in a report on Wednesday, January 28th. They set a "buy" rating and a $10.40 price target for the company. Zacks Research raised Companhia Paranaense de Energia - Copel to a "hold" rating in a report on Friday, January 30th. Scotiabank raised Companhia Paranaense de Energia - Copel to a "strong-buy" rating in a report on Friday, January 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a report on Monday. Finally, Wall Street Zen raised Companhia Paranaense de Energia - Copel from a "buy" rating to a "strong-buy" rating in a report on Sunday, April 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.40.

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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