Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) from a hold rating to a buy rating in a report released on Wednesday.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

Shares of EBR stock opened at $6.48 on Wednesday. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a twelve month low of $6.41 and a twelve month high of $9.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.56 and a current ratio of 1.57. The stock’s fifty day simple moving average is $7.20 and its 200 day simple moving average is $8.06.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.03 earnings per share for the quarter. The business had revenue of $1.76 billion for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 4.18% and a net margin of 12.98%. On average, sell-side analysts predict that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.49 earnings per share for the current fiscal year.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th were issued a dividend of $0.059 per share. The ex-dividend date of this dividend was Wednesday, May 8th. 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%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sivia Capital Partners LLC acquired a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 4th quarter worth about $98,000. Tower Research Capital LLC TRC lifted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 115.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,529 shares of the utilities provider’s stock worth $108,000 after buying an additional 6,704 shares during the period. First Affirmative Financial Network lifted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 17.0% in the 4th quarter. First Affirmative Financial Network now owns 13,642 shares of the utilities provider’s stock valued at $118,000 after purchasing an additional 1,978 shares during the period. Citigroup Inc. lifted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 81.4% in the 3rd quarter. Citigroup Inc. now owns 13,672 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 6,135 shares during the period. Finally, Barometer Capital Management Inc. acquired a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 4th quarter valued at about $119,000. 6.54% of the stock is owned by institutional investors and hedge funds.

Centrais Elétricas Brasileiras S.A. – Eletrobrás 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.