Russell Investments Group Ltd. Acquires New Position in Centrais El�tricas Brasileiras SA $EBR

Key Points

• Russell Investments Group Ltd. has invested approximately $685,000 in Centrais Elétricas Brasileiras SA, acquiring 96,470 shares as per its recent 13F filing.
• Centrais Elétricas Brasileiras announced a dividend increase, offering $0.3219 per share, which represents a significant yield of 700.0%.
• Analysts have mixed ratings for the stock; it was downgraded by Wall Street Zen to a "hold," but Scotiabank rated it as a "strong-buy," indicating varying confidence among investment professionals.

Russell Investments Group Ltd. acquired a new position in shares of Centrais El�tricas Brasileiras SA (NYSE:EBR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 96,470 shares of the utilities provider's stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. grew its position in Centrais El�tricas Brasileiras by 51.8% during the fourth 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 period. Wealthquest Corp bought a new stake in Centrais El�tricas Brasileiras in the first quarter worth about $33,000. GAMMA Investing LLC boosted 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 valued at $33,000 after acquiring 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% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,988 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 3,870 shares during the period. Finally, Barclays PLC grew its position in shares of Centrais El�tricas Brasileiras by 301.9% during the 4th quarter. Barclays PLC now owns 10,047 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 7,547 shares during the period. 2.64% of the stock is owned by hedge funds and other institutional investors.

Centrais El�tricas Brasileiras Price Performance

Shares of NYSE EBR traded up $0.04 during trading hours on Thursday, reaching $8.21. 194,455 shares of the stock traded hands, compared to its average volume of 1,344,155. The company has a market capitalization of $18.47 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 10.15 and a beta of 0.64. 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 $8.48. The company's 50-day simple moving average is $7.48 and its two-hundred day simple moving average is $7.30.

Centrais El�tricas Brasileiras Increases Dividend

The business also recently declared 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%. This is an increase from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. The ex-dividend date is Monday, August 18th. Centrais El�tricas Brasileiras's dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen cut Centrais El�tricas Brasileiras from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Scotiabank upgraded Centrais El�tricas Brasileiras to a "strong-buy" rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy".

About Centrais El�tricas Brasileiras

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.