Hsbc Holdings PLC Sells 60,791 Shares of Centrais El�tricas Brasileiras SA $EBR

Key Points

• HSBC Holdings PLC has reduced its stake in Centrais Elétricas Brasileiras SA by 12.2%, selling 60,791 shares and retaining 438,516 shares valued at approximately $3.1 million.
• Institutional interest in EBR is rising, with several firms, including Point72 Asia and Barclays PLC, significantly increasing their holdings in the last quarter.
• Centrais Elétricas Brasileiras has announced an increase in its dividend to $0.3219, reflecting a substantial yield of 700.0% compared to the previous dividend of $0.16.

Hsbc Holdings PLC cut its position in shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) by 12.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 438,516 shares of the utilities provider's stock after selling 60,791 shares during the quarter. Hsbc Holdings PLC's holdings in Centrais El�tricas Brasileiras were worth $3,113,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EBR. Two Sigma Investments LP grew its stake 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 valued at $1,810,000 after acquiring an additional 220,780 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Centrais El�tricas Brasileiras by 184.3% during the 1st quarter. GAMMA Investing LLC now owns 4,595 shares of the utilities provider's stock worth $33,000 after acquiring an additional 2,979 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Centrais El�tricas Brasileiras during the 4th quarter worth about $1,406,000. Cetera Investment Advisers bought a new position in shares of Centrais El�tricas Brasileiras in the first quarter worth about $248,000. Finally, Barclays PLC increased its stake 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 period. 2.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Centrais El�tricas Brasileiras Price Performance

Shares of Centrais El�tricas Brasileiras stock traded up $0.08 during midday trading on Monday, reaching $8.26. The company had a trading volume of 3,646,933 shares, compared to its average volume of 1,625,254. The company has a current ratio of 1.86, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 10.15 and a beta of 0.63. The stock has a fifty day simple moving average of $7.45 and a 200 day simple moving average of $7.28. Centrais El�tricas Brasileiras SA has a 1-year low of $5.45 and a 1-year high of $8.48.

Centrais El�tricas Brasileiras Increases Dividend

The firm also recently announced a -- dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be given a dividend of $0.3219 per share. This represents a dividend 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 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.