Principal Financial Group Inc. Makes New $540,000 Investment in Companhia Paranaense de Energia – Copel Unsponsored ADR $ELPC

Principal Financial Group Inc. acquired a new position in Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,235 shares of the company’s stock, valued at approximately $540,000.

Several other institutional investors have also recently modified their holdings of ELPC. Letko Brosseau & Associates Inc. raised its holdings in shares of 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 valued at $69,199,000 after buying an additional 7,210,646 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Companhia Paranaense de Energia – Copel by 575.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock worth $10,259,000 after buying an additional 919,086 shares during the last quarter. SPX Gestao de Recursos Ltda boosted its stake in Companhia Paranaense de Energia – Copel by 1,194.4% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock worth $8,731,000 after buying an additional 847,198 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake 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 buying an additional 485,063 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $3,935,000.

Insiders Place Their Bets

In other news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $2.94, for a total transaction of $95,520.60. Following the completion of the sale, the director owned 63,546 shares of the company’s stock, valued at approximately $186,825.24. This represents a 33.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Companhia Paranaense de Energia – Copel Trading Down 0.6%

ELPC opened at $11.73 on Friday. Companhia Paranaense de Energia – Copel Unsponsored ADR has a 12 month low of $7.80 and a 12 month high of $13.70. The business’s 50-day moving average price is $11.58 and its 200-day moving average price is $11.53. The company has a market cap of $8.73 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.04 and a beta of -0.07.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last issued its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts forecast that Companhia Paranaense de Energia – Copel Unsponsored ADR will post 0.7 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – Copel Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Friday, May 1st will be given a $0.1904 dividend. The ex-dividend date is Friday, May 1st. Companhia Paranaense de Energia – Copel’s payout ratio is presently 105.26%.

Analyst Upgrades and Downgrades

ELPC has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Friday, July 17th. Wall Street Zen cut shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Companhia Paranaense de Energia – Copel currently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Companhia Paranaense de Energia – Copel Company 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.