Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Rating Increased to Buy at StockNews.com

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

Shares of EBR stock traded down $0.09 during trading hours on Monday, reaching $7.17. The company had a trading volume of 748,206 shares, compared to its average volume of 952,747. The stock has a fifty day moving average of $7.24 and a 200-day moving average of $7.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.33 and a current ratio of 2.35. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 2.29 and a beta of 1.08. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 12-month low of $6.21 and a 12-month high of $9.11.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 13.37% and a return on equity of 4.18%. The firm had revenue of $1.61 billion for the quarter. On average, equities analysts anticipate that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Beck Bode LLC lifted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% during the 2nd quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock worth $11,358,000 after acquiring an additional 1,652,075 shares during the period. Millennium Management LLC lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% during the second quarter. Millennium Management LLC now owns 1,580,932 shares of the utilities provider’s stock valued at $10,165,000 after buying an additional 1,100,233 shares in the last quarter. Barings LLC boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% during the 1st quarter. Barings LLC now owns 993,886 shares of the utilities provider’s stock worth $8,299,000 after purchasing an additional 689,593 shares during the period. Van ECK Associates Corp grew its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 108.7% in the second quarter. Van ECK Associates Corp now owns 494,500 shares of the utilities provider’s stock valued at $3,180,000 after buying an additional 257,613 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 7.0% during the 2nd quarter. American Century Companies Inc. now owns 395,550 shares of the utilities provider’s stock worth $2,543,000 after buying an additional 26,010 shares during the period. Institutional investors and hedge funds own 6.54% of the company’s stock.

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.