Centrais El�tricas Brasileiras (NYSE:EBR) Hits New 52-Week High - Here's Why

Key Points

• Centrais Elétricas Brasileiras (NYSE: EBR) shares reached a new 52-week high of $10.02, reflecting a growth of 2.4% from its previous closing price of $9.81.
• The company increased its dividend to $0.3219, up from $0.16 previously, resulting in a remarkable dividend yield of **700.0%**.
• Several institutional investors significantly increased their holdings in the company, including Kapitalo Investimentos, which raised its stake by an astounding **3,872.3%** in the first quarter.

Centrais El�tricas Brasileiras SA (NYSE:EBR - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $10.02 and last traded at $10.00, with a volume of 823567 shares. The stock had previously closed at $9.81.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank raised Centrais El�tricas Brasileiras to a "strong-buy" rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Centrais El�tricas Brasileiras in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Centrais El�tricas Brasileiras has an average rating of "Buy".

Centrais El�tricas Brasileiras Stock Up 2.4%

The business has a 50 day moving average of $8.84 and a 200-day moving average of $7.82. The stock has a market cap of $22.61 billion, a PE ratio of 19.33 and a beta of 0.62. The company has a current ratio of 1.86, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50.

Centrais El�tricas Brasileiras Increases Dividend

The business also recently announced a -- dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 18th were paid a $0.3219 dividend. This is an increase from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 700.0%. Centrais El�tricas Brasileiras's dividend payout ratio (DPR) is 125.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kapitalo Investimentos Ltda lifted its holdings in shares of Centrais El�tricas Brasileiras by 3,872.3% in the 1st quarter. Kapitalo Investimentos Ltda now owns 588,811 shares of the utilities provider's stock valued at $4,181,000 after buying an additional 573,988 shares during the period. American Century Companies Inc. lifted its holdings in shares of Centrais El�tricas Brasileiras by 62.1% in the 2nd quarter. American Century Companies Inc. now owns 1,107,818 shares of the utilities provider's stock valued at $8,231,000 after buying an additional 424,417 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Centrais El�tricas Brasileiras by 92.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 658,681 shares of the utilities provider's stock valued at $4,677,000 after buying an additional 315,607 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Centrais El�tricas Brasileiras by 105.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 563,836 shares of the utilities provider's stock valued at $4,003,000 after buying an additional 289,184 shares during the period. Finally, Amundi lifted its holdings in shares of Centrais El�tricas Brasileiras by 178.6% in the 1st quarter. Amundi now owns 384,858 shares of the utilities provider's stock valued at $2,821,000 after buying an additional 246,722 shares during the period. 2.64% of the stock is currently owned by hedge funds and other institutional investors.

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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