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

Key Points

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Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) by 43.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. grew its position 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 buying an additional 1,528 shares during the last quarter. Wealthquest Corp purchased a new position in shares of Centrais El�tricas Brasileiras in the 1st quarter valued at $33,000. GAMMA Investing LLC grew its position 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 buying an additional 2,979 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 buying an additional 3,870 shares during the last quarter. Finally, Barclays PLC grew its position 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 buying an additional 7,547 shares during the last quarter. 2.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EBR shares. Scotiabank raised shares of Centrais El�tricas Brasileiras to a "strong-buy" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of Centrais El�tricas Brasileiras from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy".

Centrais El�tricas Brasileiras Stock Performance

Centrais El�tricas Brasileiras stock traded up $0.1150 during midday trading on Friday, hitting $7.8550. 1,459,702 shares of the company's stock were exchanged, compared to its average volume of 1,442,229. The stock has a market cap of $17.68 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 9.67 and a beta of 0.56. The firm's 50 day simple moving average is $7.36 and its 200 day simple moving average is $7.20. 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 12-month low of $5.45 and a 12-month high of $8.48.

Centrais El�tricas Brasileiras Increases Dividend

The company also recently announced a -- dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 18th will be issued a $0.3219 dividend. The ex-dividend date of this dividend is Monday, August 18th. This is a positive change from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. This represents a dividend yield of 700.0%. Centrais El�tricas Brasileiras's payout ratio is presently 115.38%.

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.