Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Stock Price Down 4.4%

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s stock price was down 4.4% during trading on Wednesday . The company traded as low as $7.01 and last traded at $7.03. Approximately 459,414 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 928,253 shares. The stock had previously closed at $7.35.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “hold” rating to a “buy” rating in a report on Saturday, February 17th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Down 3.8 %

The stock has a fifty day simple moving average of $7.83 and a 200-day simple moving average of $8.24. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.41.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 9th were paid a dividend of $0.059 per share. This is a boost from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a yield of 0.8%.

Hedge Funds Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. increased its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 102.2% during the third quarter. Itau Unibanco Holding S.A. now owns 1,101,685 shares of the utilities provider’s stock worth $8,053,000 after purchasing an additional 556,886 shares in the last quarter. Barings LLC increased its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% during the first quarter. Barings LLC now owns 993,886 shares of the utilities provider’s stock worth $8,299,000 after buying an additional 689,593 shares during the period. Van ECK Associates Corp lifted its stake in 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 buying an additional 210,327 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 32.6% in the fourth quarter. Mackenzie Financial Corp now owns 371,263 shares of the utilities provider’s stock valued at $3,200,000 after acquiring an additional 91,177 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,328 shares of the utilities provider’s stock worth $2,254,000 after acquiring an additional 4,574 shares during the last quarter. 6.54% of the stock is currently owned by hedge funds and other institutional investors.

About Centrais Elétricas Brasileiras S.A. – Eletrobrás

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.