Centrais El�tricas Brasileiras SA $EBR Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly reduced its stake in Centrais Elétricas Brasileiras SA by 80.5% during the 2nd quarter, now holding only 49,879 shares valued at $371,000.
• Centrais Elétricas Brasileiras declared an increase in its dividend to $0.3219, resulting in a dividend yield of 700.0%, despite having a payout ratio of 125.00%.
• Analysts have mixed opinions on the company's stock, with two upgrading the rating to "strong-buy" and one issuing a "hold" rating, reflecting an average rating of "buy".

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) by 80.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,879 shares of the utilities provider's stock after selling 205,452 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Centrais El�tricas Brasileiras were worth $371,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake 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 buying an additional 2,979 shares during the period. Wealthquest Corp purchased a new stake in Centrais El�tricas Brasileiras during the first quarter worth approximately $33,000. Cerity Partners LLC purchased a new stake in Centrais El�tricas Brasileiras during the first quarter worth approximately $135,000. Invesco Ltd. purchased a new position in shares of Centrais El�tricas Brasileiras in the first quarter valued at $179,000. Finally, Royal Bank of Canada boosted its stake in shares of Centrais El�tricas Brasileiras by 3,719.8% in the first quarter. Royal Bank of Canada now owns 30,711 shares of the utilities provider's stock valued at $219,000 after purchasing an additional 29,907 shares during the period. 2.64% of the stock is currently owned by hedge funds and other institutional investors.

Centrais El�tricas Brasileiras Trading Down 2.5%

Centrais El�tricas Brasileiras stock opened at $9.45 on Friday. The firm's 50-day moving average is $8.65 and its 200-day moving average is $7.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 1.86. Centrais El�tricas Brasileiras SA has a 1 year low of $5.45 and a 1 year high of $10.02. The company has a market cap of $21.26 billion, a P/E ratio of 18.16 and a beta of 0.62.

Centrais El�tricas Brasileiras Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EBR shares. Scotiabank upgraded shares of Centrais El�tricas Brasileiras to a "strong-buy" rating in a research note on Thursday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of Centrais El�tricas Brasileiras in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy".

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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