Centrais El�tricas Brasileiras SA $EBR Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Centrais Elétricas Brasileiras by 92.0%, owning 658,681 shares worth approximately $4.68 million after an additional purchase of 315,607 shares.
• The company recently announced a dividend increase to $0.3219 per share, significantly rising from its previous dividend of $0.16, yielding 700.0%.
• Centrais Elétricas Brasileiras has received a consensus rating of "Strong Buy" from analysts, with Scotiabank upgrading their rating in July.

Goldman Sachs Group Inc. boosted its holdings in shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) by 92.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 658,681 shares of the utilities provider's stock after acquiring an additional 315,607 shares during the period. Goldman Sachs Group Inc.'s holdings in Centrais El�tricas Brasileiras were worth $4,677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its position in Centrais El�tricas Brasileiras by 230.9% during the fourth quarter. Two Sigma Investments LP now owns 316,380 shares of the utilities provider's stock worth $1,810,000 after acquiring an additional 220,780 shares during the last quarter. GAMMA Investing LLC raised its position in Centrais El�tricas Brasileiras by 184.3% during the first quarter. GAMMA Investing LLC now owns 4,595 shares of the utilities provider's stock worth $33,000 after acquiring an additional 2,979 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Centrais El�tricas Brasileiras during the fourth quarter worth about $1,406,000. Russell Investments Group Ltd. acquired a new position in Centrais El�tricas Brasileiras during the first quarter worth about $685,000. Finally, Cetera Investment Advisers acquired a new position in Centrais El�tricas Brasileiras during the first quarter worth about $248,000. Institutional investors and hedge funds own 2.64% of the company's stock.

Centrais El�tricas Brasileiras Trading Up 3.4%

EBR stock traded up $0.32 on Friday, hitting $9.53. 2,625,782 shares of the company were exchanged, compared to its average volume of 1,852,108. Centrais El�tricas Brasileiras SA has a twelve month low of $5.45 and a twelve month high of $9.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.86 and a quick ratio of 1.85. The business's fifty day moving average is $7.83 and its two-hundred day moving average is $7.48. The stock has a market capitalization of $21.44 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 11.34 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 dividend of $0.3219 per share. This is an increase from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. This represents a yield of 700.0%. The ex-dividend date was Monday, August 18th. Centrais El�tricas Brasileiras's payout ratio is presently 125.00%.

Analyst Ratings Changes

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

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.