304,293 Shares in Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Purchased by Barings LLC

Barings LLC purchased a new position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 304,293 shares of the utilities provider's stock, valued at approximately $2,623,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EBR. Van ECK Associates Corp boosted its position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 88.5% in the fourth quarter. Van ECK Associates Corp now owns 447,979 shares of the utilities provider's stock valued at $3,862,000 after acquiring an additional 210,327 shares during the period. Alpine Global Management LLC bought a new position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás during the third quarter worth approximately $249,000. O Shaughnessy Asset Management LLC raised its position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 35.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 28,699 shares of the utilities provider's stock valued at $210,000 after buying an additional 7,537 shares in the last quarter. Citigroup Inc. grew its position in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 81.4% during the third quarter. Citigroup Inc. now owns 13,672 shares of the utilities provider's stock worth $100,000 after buying an additional 6,135 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Centrais Elétricas Brasileiras S.A. - Eletrobrás during the 4th quarter worth $156,000. Institutional investors own 6.54% of the company's stock.

Centrais Elétricas Brasileiras S.A. - Eletrobrás Stock Performance

Centrais Elétricas Brasileiras S.A. - Eletrobrás stock traded up $0.08 during trading hours on Tuesday, reaching $7.47. 1,143,423 shares of the stock were exchanged, compared to its average volume of 936,797. The stock has a 50 day moving average of $7.96 and a two-hundred day moving average of $8.23. The company has a current ratio of 1.76, a quick ratio of 1.75 and a debt-to-equity ratio of 0.44. Centrais Elétricas Brasileiras S.A. - Eletrobrás has a twelve month low of $6.45 and a twelve month high of $9.11.

Centrais Elétricas Brasileiras S.A. - Eletrobrás Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.059 per share. This is an increase from Centrais Elétricas Brasileiras S.A. - Eletrobrás's previous annual dividend of $0.04. This represents a yield of 0.8%. The ex-dividend date is Wednesday, May 8th.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Centrais Elétricas Brasileiras S.A. - Eletrobrás from a "hold" rating to a "buy" rating in a research report on Saturday, February 17th.

Centrais Elétricas Brasileiras S.A. - Eletrobrás Profile

Centrais Elétricas Brasileiras SA - Eletrobrás, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. It owned and operated 32 hydroelectric plants; As of December 31, 2022, it operated 32 hydroelectric plants; five thermal plants, including coal and gas power generation units with a total installed capacity of 1,482 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.

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