Connor Clark & Lunn Investment Management Ltd. Reduces Position in Centrais El�tricas Brasileiras SA $EBR

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Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,013 shares of the utilities provider's stock after selling 78,244 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Centrais El�tricas Brasileiras were worth $724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC increased its position in shares of Centrais El�tricas Brasileiras by 301.9% in the fourth quarter. Barclays PLC now owns 10,047 shares of the utilities provider's stock worth $57,000 after purchasing an additional 7,547 shares during the last quarter. Mariner LLC grew its position in Centrais El�tricas Brasileiras by 11.5% during the fourth quarter. Mariner LLC now owns 29,316 shares of the utilities provider's stock valued at $168,000 after acquiring an additional 3,031 shares during the last quarter. XTX Topco Ltd grew its position in Centrais El�tricas Brasileiras by 177.7% during the fourth quarter. XTX Topco Ltd now owns 81,590 shares of the utilities provider's stock valued at $467,000 after acquiring an additional 52,212 shares during the last quarter. Walleye Capital LLC bought a new position in Centrais El�tricas Brasileiras during the fourth quarter valued at approximately $999,000. Finally, First Trust Advisors LP purchased a new stake in shares of Centrais El�tricas Brasileiras during the fourth quarter valued at approximately $81,000. 2.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Scotiabank raised Centrais El�tricas Brasileiras to a "strong-buy" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded Centrais El�tricas Brasileiras from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd.

Centrais El�tricas Brasileiras Price Performance

Shares of NYSE:EBR opened at $7.83 on Tuesday. Centrais El�tricas Brasileiras SA has a 1-year low of $5.45 and a 1-year high of $8.48. 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 has a fifty day moving average price of $7.34 and a 200-day moving average price of $7.17. The company has a market capitalization of $17.61 billion, a PE ratio of 15.05, a PEG ratio of 10.09 and a beta of 0.56.

Centrais El�tricas Brasileiras Increases Dividend

The firm also recently disclosed a -- dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 18th will be issued a $0.3219 dividend. This represents a yield of 700.0%. The ex-dividend date is Monday, August 18th. This is a positive change from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. Centrais El�tricas Brasileiras's dividend payout ratio is 53.85%.

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.

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