The company said in a statement sent on Tuesday, that the Chairman of the Executive Board of EDP, Miguel Stilwell Dandred, bought 25,000 shares in the electric company for 97,178.27 euros, at an average price of 3.887 euros per security. Portuguese Securities Market Authority (CMVM).
Through this operation, Stilwell d’Andrade now owns a total of 205 thousand shares, which means at market prices, taking into account the electricity company’s latest closing price, that the CEO currently has €796,015 in EDP.
The chairman of the EDP board benefited from a moment when the company’s shares fell, after ending Tuesday’s session discounting – in an opposite cycle with the renewable energy arm – 0.60%, to 3,833 euros, to renew their lowest levels since May 2020. Since the beginning of the year, the company has lost 20.67%, being the listed company with the worst performance on the PSI-20 stock exchange, followed by EDP Renováveis (17.85%).
In recent days, several investment houses, from Barclays, through BNP Paribas to Goldman Sachs, have lowered their target price. At the moment, according to data provided by Bloomberg, the consensus of analysts for the company’s securities led by Miguel Stilwell points to 5.55 euros, which means that it could rise by 42.7%.
EDP filed annual accounts last week, and announced to the market that it closed 2021 with an 18% drop in profit to €657 million. In 2020, the company recorded a net profit of 801 million euros.
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