Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Down – Here’s What Happened

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.72, but opened at $5.50. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $5.58, with a volume of 258,164 shares changing hands.

Wall Street Analyst Weigh In

EBR has been the subject of a number of analyst reports. Hsbc Global Res upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $6.04 and a two-hundred day simple moving average of $6.70. The company has a market cap of $12.79 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, December 30th will be issued a dividend of $0.1414 per share. This represents a yield of 1%. The ex-dividend date of this dividend is Monday, December 30th. Centrais Elétricas Brasileiras S.A. – Eletrobrás’s dividend payout ratio is currently 28.57%.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 22.0% in the third quarter. Signaturefd LLC now owns 9,353 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 1,685 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 26.0% in the 3rd quarter. Sivia Capital Partners LLC now owns 12,798 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 2,642 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 30.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 21,755 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 5,089 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 55.6% in the 3rd quarter. Quantinno Capital Management LP now owns 21,938 shares of the utilities provider’s stock valued at $159,000 after purchasing an additional 7,843 shares in the last quarter. Finally, First Affirmative Financial Network boosted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 41.9% during the 3rd quarter. First Affirmative Financial Network now owns 28,122 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 8,307 shares during the last quarter. 2.64% of the stock is owned by institutional investors and hedge funds.

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.