Mirae Asset Global Investments Co. Ltd. Sells 19,339 Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) by 7.2% in the third quarter, HoldingsChannel.com reports. The fund owned 250,875 shares of the utilities provider’s stock after selling 19,339 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Beck Bode LLC increased its position 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 valued at $11,358,000 after purchasing an additional 1,652,075 shares during the last quarter. Millennium Management LLC grew 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 during the period. Barings LLC increased its holdings 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 last quarter. Van ECK Associates Corp raised its position in 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 worth $3,180,000 after acquiring an additional 257,613 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the third quarter valued at about $1,600,000. 6.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EBR shares. StockNews.com raised shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Hsbc Global Res upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research note on Tuesday, October 15th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

NYSE EBR opened at $6.57 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.35 and a debt-to-equity ratio of 0.54. The company has a market cap of $15.12 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 2.09 and a beta of 1.09. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $6.21 and a 52 week high of $9.11. The firm’s 50-day simple moving average is $7.19 and its two-hundred day simple moving average is $7.09.

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

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.