35,000 Shares in Centrais El�tricas Brasileiras SA $EBR Purchased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers has acquired a new stake in Centrais Elétricas Brasileiras SA, purchasing 35,000 shares valued at approximately $248,000 in the first quarter, indicating growing institutional interest in the company.
• The company recently announced a dividend increase, with shareholders set to receive $0.3219 per share, reflecting a substantial yield of **700%** compared to its previous **$0.16** dividend.
• Analysts have mixed ratings on the stock, with Scotiabank upgrading it to a "strong-buy," while Wall Street Zen downgraded it to a "hold," suggesting varying confidence among market experts.

Cetera Investment Advisers acquired a new stake in Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 35,000 shares of the utilities provider's stock, valued at approximately $248,000.

Several other hedge funds also recently modified their holdings of EBR. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Centrais El�tricas Brasileiras by 51.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,478 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 1,528 shares in the last quarter. Wealthquest Corp bought a new position in shares of Centrais El�tricas Brasileiras in the 1st quarter valued at about $33,000. GAMMA Investing LLC grew its holdings in shares of Centrais El�tricas Brasileiras by 184.3% in the 1st quarter. GAMMA Investing LLC now owns 4,595 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 2,979 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Centrais El�tricas Brasileiras by 124.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,988 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 3,870 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Centrais El�tricas Brasileiras by 301.9% in the 4th quarter. Barclays PLC now owns 10,047 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 7,547 shares in the last quarter. Institutional investors own 2.64% of the company's stock.

Centrais El�tricas Brasileiras Stock Performance

Centrais El�tricas Brasileiras stock traded up $0.18 during midday trading on Wednesday, reaching $8.03. 1,043,262 shares of the company's stock were exchanged, compared to its average volume of 1,505,029. Centrais El�tricas Brasileiras SA has a 52 week low of $5.45 and a 52 week high of $8.48. 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 market cap of $18.06 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 9.67 and a beta of 0.56. The stock's 50-day simple moving average is $7.39 and its 200 day simple moving average is $7.23.

Centrais El�tricas Brasileiras Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 18th will be issued a dividend of $0.3219 per share. The ex-dividend date is Monday, August 18th. This is an increase from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. This represents a yield of 700.0%. Centrais El�tricas Brasileiras's dividend payout ratio is 115.38%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EBR. Scotiabank upgraded Centrais El�tricas Brasileiras to a "strong-buy" rating in a report on Thursday, July 31st. Wall Street Zen cut Centrais El�tricas Brasileiras from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently 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.