Centrais El�tricas Brasileiras (NYSE:EBR) Reaches New 12-Month High - Should You Buy?

Key Points

• Centrais Elétricas Brasileiras (NYSE:EBR) reached a new 52-week high of $9.62 during trading, showcasing strong investor interest with a trading volume of 519,825 shares.
• Analysts are optimistic about the company, with Scotiabank upgrading their rating to "strong-buy" and an average rating across analysts remaining at "Strong Buy."
• The company has recently increased its dividend to $0.3219, reflecting a remarkable yield of 700.0%, despite a high dividend payout ratio of 125.00%.

Centrais El�tricas Brasileiras SA (NYSE:EBR - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $9.62 and last traded at $9.54, with a volume of 519825 shares traded. The stock had previously closed at $9.37.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised Centrais El�tricas Brasileiras to a "strong-buy" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

Centrais El�tricas Brasileiras Trading Up 2.6%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 1.86. The firm has a fifty day moving average price of $7.87 and a 200 day moving average price of $7.51. The company has a market cap of $21.64 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 10.45 and a beta of 0.63.

Centrais El�tricas Brasileiras Increases Dividend

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

Hedge Funds Weigh In On Centrais El�tricas Brasileiras

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Centrais El�tricas Brasileiras by 184.3% in the first quarter. GAMMA Investing LLC now owns 4,595 shares of the utilities provider's stock valued at $33,000 after buying an additional 2,979 shares in the last quarter. Wealthquest Corp bought a new position in shares of Centrais El�tricas Brasileiras during the 1st quarter worth approximately $33,000. Vise Technologies Inc. bought a new position in shares of Centrais El�tricas Brasileiras during the 2nd quarter worth approximately $74,000. Drive Wealth Management LLC bought a new position in shares of Centrais El�tricas Brasileiras during the 2nd quarter worth approximately $75,000. Finally, Two Sigma Advisers LP bought a new position in shares of Centrais El�tricas Brasileiras during the 4th quarter worth approximately $62,000. 2.64% of the stock is owned by institutional investors.

About Centrais El�tricas Brasileiras

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.