Mirae Asset Global Investments Co. Ltd. Makes New Investment in Companhia Paranaense de Energia – Copel Unsponsored ADR $ELPC

Mirae Asset Global Investments Co. Ltd. bought a new stake in Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 80,731 shares of the company’s stock, valued at approximately $1,003,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Companhia Paranaense de Energia – Copel by 23.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,373 shares of the company’s stock valued at $88,000 after purchasing an additional 1,379 shares during the last quarter. Corient Private Wealth LP purchased a new position in Companhia Paranaense de Energia – Copel during the 2nd quarter worth approximately $120,000. Altar Rock LLC acquired a new stake in Companhia Paranaense de Energia – Copel during the 2nd quarter valued at approximately $121,000. QRG Capital Management Inc. purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the 1st quarter valued at $157,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Companhia Paranaense de Energia – Copel by 22.3% in the 2nd quarter. GAMMA Investing LLC now owns 14,186 shares of the company’s stock valued at $165,000 after acquiring an additional 2,586 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ELPC. Zacks Research upgraded shares of Companhia Paranaense de Energia – Copel from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Wall Street Zen lowered shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Finally, Weiss Ratings upgraded Companhia Paranaense de Energia – Copel from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $10.40.

Insider Activity

In related news, Director Pedro Sales sold 50,000 shares of the stock in a transaction on Monday, October 19th. The shares were sold at an average price of $3.48, for a total transaction of $174,000.00. Following the sale, the director directly owned 24,844 shares of the company’s stock, valued at approximately $86,457.12. This represents a 66.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Companhia Paranaense de Energia – Copel Trading Up 0.2%

Companhia Paranaense de Energia – Copel stock opened at $10.72 on Monday. Companhia Paranaense de Energia – Copel Unsponsored ADR has a 12 month low of $8.86 and a 12 month high of $14.51. The stock’s 50 day simple moving average is $12.49 and its two-hundred day simple moving average is $11.81. The firm has a market cap of $7.98 billion and a PE ratio of 15.32.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently announced a special dividend, which was paid on Tuesday, October 13th. Investors of record on Friday, May 1st were paid a $0.1904 dividend. The ex-dividend date was Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is currently 85.71%.

Companhia Paranaense de Energia – Copel Company Profile

Companhia Paranaense de Energia, known as Copel, is a Brazilian electric utility headquartered in Curitiba, Paraná. Established in 1954 by the state of Paraná, the company became a privately controlled corporation in 2023.

Copel operates across the electricity sector, with activities that include power generation, transmission, distribution and energy trading. Its generation portfolio includes hydroelectric and renewable energy assets, and its transmission and generation operations extend beyond Paraná.

The company’s electricity distribution business serves customers across much of Paraná, including residential, commercial and industrial users.