Cubist Systematic Strategies LLC Buys 289,184 Shares of Centrais El�tricas Brasileiras SA $EBR

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Centrais Elétricas Brasileiras SA by 105.3% during the first quarter, holding 563,836 shares valued at approximately $4 million.
• Centrais Elétricas Brasileiras announced a dividend increase, with a yield of 700.0% for stockholders of record, up from a previous dividend of $0.16.
• Various hedge funds have been actively adjusting their positions in the company, with Point72 Asia Singapore increasing its holdings by 51.8% during the fourth quarter.

Cubist Systematic Strategies LLC increased its holdings in shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) by 105.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 563,836 shares of the utilities provider's stock after buying an additional 289,184 shares during the period. Cubist Systematic Strategies LLC's holdings in Centrais El�tricas Brasileiras were worth $4,003,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in EBR. Millennium Management LLC raised its stake in shares of Centrais El�tricas Brasileiras by 336.5% during the fourth quarter. Millennium Management LLC now owns 4,196,607 shares of the utilities provider's stock valued at $24,005,000 after acquiring an additional 3,235,114 shares during the last quarter. Kapitalo Investimentos Ltda grew its stake in shares of Centrais El�tricas Brasileiras by 3,872.3% in the first quarter. Kapitalo Investimentos Ltda now owns 588,811 shares of the utilities provider's stock worth $4,181,000 after purchasing an additional 573,988 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Centrais El�tricas Brasileiras in the fourth quarter valued at $1,406,000. Two Sigma Investments LP raised its position in Centrais El�tricas Brasileiras by 230.9% during the 4th quarter. Two Sigma Investments LP now owns 316,380 shares of the utilities provider's stock worth $1,810,000 after purchasing an additional 220,780 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Centrais El�tricas Brasileiras during the 4th quarter worth $681,000. 2.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Centrais El�tricas Brasileiras Trading Up 0.7%

EBR traded up $0.06 during trading on Wednesday, reaching $8.49. 1,886,359 shares of the stock traded hands, compared to its average volume of 1,571,934. The company has a quick ratio of 1.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average is $7.59 and its 200 day moving average is $7.36. Centrais El�tricas Brasileiras SA has a 12 month low of $5.45 and a 12 month high of $8.56. The stock has a market capitalization of $19.11 billion, a PE ratio of 16.33, a P/E/G ratio of 10.38 and a beta of 0.64.

Centrais El�tricas Brasileiras Increases Dividend

The firm also recently announced a -- dividend, which was paid on Friday, September 5th. Investors of record on Monday, August 18th were given a dividend of $0.3219 per share. This represents a dividend yield of 700.0%. The ex-dividend date was 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 currently 125.00%.

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.