Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Raised to Strong-Buy at StockNews.com

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

Separately, 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

EBR stock traded down $0.16 during trading on Friday, reaching $6.22. The stock had a trading volume of 1,218,613 shares, compared to its average volume of 896,326. The stock’s 50 day moving average is $7.04 and its two-hundred day moving average is $7.04. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $6.11 and a 52 week high of $9.11. The company has a quick ratio of 2.33, a current ratio of 2.35 and a debt-to-equity ratio of 0.54.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last posted 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 company had revenue of $1.61 billion for the quarter. As a group, equities analysts expect that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current fiscal year.

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

Several large investors have recently added to or reduced their stakes in the company. Beck Bode LLC raised 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 period. Millennium Management LLC raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% during the 2nd 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 stake 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 period. Van ECK Associates Corp boosted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 108.7% during 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 during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the third quarter worth $1,600,000. Hedge funds and other institutional investors own 6.54% of the company’s stock.

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.