Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Up to $6.58

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $6.58, but opened at $6.76. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $6.81, with a volume of 110,455 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Up 4.0 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.57 and a quick ratio of 1.56. The firm’s 50-day moving average price is $7.00 and its 200 day moving average price is $7.92.

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

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 9th were given a $0.059 dividend. This is a positive change from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04. This represents a dividend yield of 0.8%. The ex-dividend date was Wednesday, May 8th.

Institutional Trading of Centrais Elétricas Brasileiras S.A. – Eletrobrás

A number of institutional investors have recently modified their holdings of EBR. O Shaughnessy Asset Management LLC increased its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 35.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 28,699 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 7,537 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the third quarter valued at approximately $249,000. Citigroup Inc. boosted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 81.4% in the third 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. First Affirmative Financial Network grew its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 17.0% during 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 4th quarter worth $156,000. Hedge funds and other institutional investors 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.