Letko Brosseau & Associates Inc. Grows Stake in Companhia Paranaense de Energia – Copel Unsponsored ADR $ELPC

Letko Brosseau & Associates Inc. grew its position in Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) by 10,965.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,276,402 shares of the company’s stock after purchasing an additional 7,210,646 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Companhia Paranaense de Energia – Copel were worth $69,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew 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 worth $6,214,000 after purchasing an additional 485,063 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Companhia Paranaense de Energia – Copel in the fourth quarter worth $921,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Companhia Paranaense de Energia – Copel in the fourth quarter worth $848,000. Blue Trust Inc. grew 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 worth $457,000 after purchasing an additional 46,298 shares during the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in Companhia Paranaense de Energia – Copel in the fourth quarter worth $454,000.

Companhia Paranaense de Energia – Copel Stock Up 1.7%

ELPC stock opened at $11.34 on Wednesday. The firm has a 50 day moving average of $12.34 and a 200 day moving average of $11.00. The stock has a market capitalization of $8.44 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 0.95 and a beta of -0.07. Companhia Paranaense de Energia – Copel Unsponsored ADR has a 52 week low of $7.32 and a 52 week high of $13.70.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, equities research analysts expect that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.74 earnings per share for the current year.

Companhia Paranaense de Energia – Copel Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, May 1st will be paid a $0.1904 dividend. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is 101.75%.

Insider Buying and Selling

In related news, Director Pedro Franco Sales sold 153,700 shares of Companhia Paranaense de Energia – Copel stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $3.19, for a total value of $490,303.00. Following the completion of the sale, the director directly owned 74,844 shares in the company, valued at $238,752.36. This trade represents a 67.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ELPC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Monday, April 20th. Wall Street Zen cut shares of Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. One 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. According to data from MarketBeat, Companhia Paranaense de Energia – Copel currently has an average rating of “Moderate Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Profile

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.