Centrais El�tricas Brasileiras (NYSE:EBR) Sets New 52-Week High - Still a Buy?

Key Points

• Centrais Elétricas Brasileiras SA's stock reached a new 52-week high at $9.08 during trading, showcasing a strong performance with over 1.7 million shares traded.
• Analyst ratings fluctuate as Wall Street Zen downgraded the stock to "hold" while Scotiabank upgraded it to a "strong-buy," resulting in a current consensus rating of Strong Buy.
• The company recently increased its dividend significantly to $0.3219, representing a remarkable yield of 700%, up from a previous dividend of $0.16.

Shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $9.08 and last traded at $9.06, with a volume of 1704544 shares changing hands. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Scotiabank upgraded shares of Centrais El�tricas Brasileiras to a "strong-buy" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of Centrais El�tricas Brasileiras from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

Centrais El�tricas Brasileiras Stock Performance

The company has a market cap of $20.75 billion, a PE ratio of 17.73, a P/E/G ratio of 11.33 and a beta of 0.64. 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 stock's 50-day simple moving average is $7.78 and its 200 day simple moving average is $7.46.

Centrais El�tricas Brasileiras Increases Dividend

The business also recently declared a -- dividend, which was paid on Friday, September 5th. Stockholders of record on Monday, August 18th were paid a dividend of $0.3219 per share. This is a boost from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 700.0%. Centrais El�tricas Brasileiras's dividend payout ratio is currently 125.00%.

Hedge Funds Weigh In On Centrais El�tricas Brasileiras

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

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.