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

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 report issued on Monday.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

Shares of NYSE EBR opened at $7.30 on Monday. The company’s fifty day moving average price is $7.24 and its 200 day moving average price is $7.34. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 1 year low of $6.21 and a 1 year high of $9.11. The company has a market capitalization of $16.80 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 2.29 and a beta of 1.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.33 and a current ratio of 2.35.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last announced its quarterly earnings results 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, research analysts predict that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

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

A number of hedge funds have recently added to or reduced their stakes in EBR. Beck Bode LLC raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% in the second quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock valued at $11,358,000 after buying an additional 1,652,075 shares during the last quarter. Millennium Management LLC raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% in 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 last quarter. Barings LLC raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% in the first quarter. Barings LLC now owns 993,886 shares of the utilities provider’s stock valued at $8,299,000 after buying an additional 689,593 shares during the last quarter. Van ECK Associates Corp raised its position 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 during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the second quarter valued at about $938,000. 6.54% of the stock is owned by hedge funds and other institutional investors.

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.