Centrais El�tricas Brasileiras (NYSE:EBR) Hits New 12-Month High - What's Next?

Key Points

• Centrais Elétricas Brasileiras (NYSE:EBR) reached a 52-week high of $8.48, with substantial trading volume of over 1.3 million shares.
• The company has faced mixed ratings from analysts, with Scotiabank upgrading shares to "strong-buy" while Wall Street Zen downgraded their rating to "hold".
• Centrais Elétricas Brasileiras announced a notable dividend increase to $0.3219 per share, resulting in a high dividend yield of 700.0% compared to the previous $0.16.

Shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $8.48 and last traded at $8.47, with a volume of 1338723 shares. The stock had previously closed at $8.27.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen lowered Centrais El�tricas Brasileiras from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Scotiabank upgraded Centrais El�tricas Brasileiras to a "strong-buy" rating in a research note on Thursday, July 31st.

Centrais El�tricas Brasileiras Stock Performance

The company has a market cap of $19.06 billion, a P/E ratio of 16.29, a P/E/G ratio of 10.18 and a beta of 0.56. The firm has a 50 day moving average price of $7.28 and a 200-day moving average price of $7.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.27 and a current ratio of 1.86.

Centrais El�tricas Brasileiras (NYSE:EBR - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.17). The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $10.28 billion. Centrais El�tricas Brasileiras had a return on equity of 7.05% and a net margin of 15.65%. On average, research analysts predict that Centrais El�tricas Brasileiras SA will post 0.32 EPS for the current year.

Centrais El�tricas Brasileiras Increases Dividend

The firm also recently disclosed a -- dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 18th will be given a dividend of $0.3219 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a dividend yield of 700.0%. This is a boost from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. Centrais El�tricas Brasileiras's payout ratio is presently 36.84%.

Hedge Funds Weigh In On Centrais El�tricas Brasileiras

Several large investors have recently made changes to their positions in the business. Millennium Management LLC lifted its position in shares of Centrais El�tricas Brasileiras by 336.5% during the 4th quarter. Millennium Management LLC now owns 4,196,607 shares of the utilities provider's stock worth $24,005,000 after purchasing an additional 3,235,114 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Centrais El�tricas Brasileiras by 62.1% during the 2nd quarter. American Century Companies Inc. now owns 1,107,818 shares of the utilities provider's stock worth $8,231,000 after purchasing an additional 424,417 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Centrais El�tricas Brasileiras by 92.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 658,681 shares of the utilities provider's stock worth $4,677,000 after purchasing an additional 315,607 shares during the last quarter. Kapitalo Investimentos Ltda lifted its position in shares of Centrais El�tricas Brasileiras by 3,872.3% during the 1st quarter. Kapitalo Investimentos Ltda now owns 588,811 shares of the utilities provider's stock worth $4,181,000 after purchasing an additional 573,988 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Centrais El�tricas Brasileiras by 105.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 563,836 shares of the utilities provider's stock worth $4,003,000 after purchasing an additional 289,184 shares during the last quarter. Institutional investors and hedge funds own 2.64% of the company's stock.

Centrais El�tricas Brasileiras Company Profile

Centrais Elétricas Brasileiras SA - Eletrobrás, through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil. The company generates electricity through hydroelectric, thermoelectric, nuclear, wind, and solar plants. As of December 31, 2023, it owned and operated 44 hydroelectric plants with a total capacity of 42,293.5 megawatt (MW); 5 thermal plants, including coal and gas power generation units with a total installed capacity of 1,632 MW; and two nuclear power plants comprising Angra 1 with an installed capacity of 657 MW and Angra 2 with an installed capacity of 1350 MW.

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