InTrack Investment Management Inc Makes New Investment in Centrais El�tricas Brasileiras SA $EBR

Key Points

• InTrack Investment Management Inc has acquired a new position in Centrais Elétricas Brasileiras SA, purchasing 108,776 shares valued at approximately $808,000.
• Centrais Elétricas Brasileiras recently increased its dividend to $0.3219 per share, significantly up from the previous dividend of $0.16, resulting in a yield of 700.0%.
• The stock has been rated a "strong-buy" by Scotiabank, contributing to a consensus rating of "Buy" among investment analysts following positive performance trends.

InTrack Investment Management Inc acquired a new position in Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 108,776 shares of the utilities provider's stock, valued at approximately $808,000.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Centrais El�tricas Brasileiras by 184.3% in the first quarter. GAMMA Investing LLC now owns 4,595 shares of the utilities provider's stock worth $33,000 after purchasing an additional 2,979 shares during the last quarter. Wealthquest Corp bought a new stake in Centrais El�tricas Brasileiras in the first quarter worth about $33,000. Cerity Partners LLC bought a new stake in Centrais El�tricas Brasileiras in the first quarter worth about $135,000. Invesco Ltd. bought a new stake in Centrais El�tricas Brasileiras in the first quarter worth about $179,000. Finally, Royal Bank of Canada increased its position in shares of Centrais El�tricas Brasileiras by 3,719.8% during the first quarter. Royal Bank of Canada now owns 30,711 shares of the utilities provider's stock worth $219,000 after acquiring an additional 29,907 shares during the period. Institutional investors own 2.64% of the company's stock.

Centrais El�tricas Brasileiras Stock Performance

Shares of EBR stock opened at $9.77 on Thursday. The firm has a market cap of $21.99 billion, a price-to-earnings ratio of 18.79 and a beta of 0.62. The company's 50 day moving average is $8.53 and its 200 day moving average is $7.73. The company has a quick ratio of 1.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.50. Centrais El�tricas Brasileiras SA has a 52-week low of $5.45 and a 52-week high of $10.02.

Centrais El�tricas Brasileiras Increases Dividend

The firm also recently disclosed a -- dividend, which was paid on Friday, September 5th. Investors of record on Monday, August 18th were issued a dividend of $0.3219 per share. The ex-dividend date of this dividend was Monday, August 18th. This is a positive change 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 123.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EBR shares. Scotiabank raised shares of Centrais El�tricas Brasileiras to a "strong-buy" rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Centrais El�tricas Brasileiras in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

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.

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