Amundi Buys 246,722 Shares of Centrais El�tricas Brasileiras SA $EBR

Key Points

• Amundi increased its position in Centrais Elétricas Brasileiras (NYSE: EBR) by 178.6% during the first quarter, owning 384,858 shares valued at $2.82 million as of the latest reporting period.
• A number of institutional investors, including Barclays PLC and Point72 Asia, also boosted their holdings significantly in Centrais Elétricas Brasileiras, reflecting increasing institutional interest.
• Wall Street analysts have given the stock a consensus rating of "Strong Buy", with Scotiabank upgrading it recently, indicating positive sentiment towards the company's future performance.

Amundi boosted its holdings in shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) by 178.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,858 shares of the utilities provider's stock after acquiring an additional 246,722 shares during the quarter. Amundi's holdings in Centrais El�tricas Brasileiras were worth $2,821,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in EBR. Millennium Management LLC grew its stake in shares of Centrais El�tricas Brasileiras by 336.5% in the fourth 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. Kapitalo Investimentos Ltda grew its position 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 last quarter. Cubist Systematic Strategies LLC grew its position 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 last quarter. Point72 Asset Management L.P. bought a new stake in shares of Centrais El�tricas Brasileiras in the 4th quarter valued at about $1,406,000. Finally, Two Sigma Investments LP grew its position in shares of Centrais El�tricas Brasileiras by 230.9% in the 4th quarter. Two Sigma Investments LP now owns 316,380 shares of the utilities provider's stock valued at $1,810,000 after buying an additional 220,780 shares during the last quarter. 2.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Centrais El�tricas Brasileiras Stock Up 1.5%

Shares of EBR traded up $0.14 during trading hours on Wednesday, reaching $9.20. The stock had a trading volume of 3,667,861 shares, compared to its average volume of 1,697,724. Centrais El�tricas Brasileiras SA has a 12 month low of $5.45 and a 12 month high of $9.31. The firm has a 50-day simple moving average of $7.74 and a 200 day simple moving average of $7.44. The company has a current ratio of 1.86, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 11.16 and a beta of 0.64.

Centrais El�tricas Brasileiras Increases Dividend

The firm also recently disclosed a -- dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 18th were paid a $0.3219 dividend. This represents a dividend yield of 700.0%. This is a positive change from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. The ex-dividend date of this dividend was Monday, August 18th. Centrais El�tricas Brasileiras's payout ratio is 123.08%.

Centrais El�tricas Brasileiras 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.