Millennium Management LLC Purchases 3,235,114 Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)

Millennium Management LLC raised its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) by 336.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,196,607 shares of the utilities provider’s stock after acquiring an additional 3,235,114 shares during the quarter. Millennium Management LLC owned approximately 0.19% of Centrais Elétricas Brasileiras S.A. – Eletrobrás worth $24,005,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 21.6% in the 4th quarter. American Century Companies Inc. now owns 576,104 shares of the utilities provider’s stock valued at $3,295,000 after purchasing an additional 102,457 shares during the period. Van ECK Associates Corp increased its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 4.1% during the fourth quarter. Van ECK Associates Corp now owns 524,314 shares of the utilities provider’s stock worth $2,999,000 after buying an additional 20,839 shares during the last quarter. Hsbc Holdings PLC raised its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 6.2% in the fourth quarter. Hsbc Holdings PLC now owns 499,307 shares of the utilities provider’s stock valued at $2,856,000 after buying an additional 29,302 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 255,183 shares of the utilities provider’s stock valued at $1,460,000 after buying an additional 4,308 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 173.4% in the fourth quarter. Trexquant Investment LP now owns 219,079 shares of the utilities provider’s stock valued at $1,253,000 after buying an additional 138,951 shares during the last quarter. Institutional investors own 2.64% of the company’s stock.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

NYSE:EBR opened at $7.47 on Tuesday. The company has a market cap of $16.78 billion, a P/E ratio of 9.83, a P/E/G ratio of 4.35 and a beta of 0.75. The firm’s fifty day moving average price is $7.32 and its two-hundred day moving average price is $6.53. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a one year low of $5.45 and a one year high of $7.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 2.04.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last posted its earnings results on Thursday, May 15th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.17). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $10.28 billion. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 26.50% and a return on equity of 9.00%. Equities analysts expect that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be issued a $0.1575 dividend. This represents a yield of 4%. This is a positive change from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous — dividend of $0.14. The ex-dividend date of this dividend is Wednesday, April 30th. Centrais Elétricas Brasileiras S.A. – Eletrobrás’s dividend payout ratio is currently 36.84%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 13th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás 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.