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

StockNews.com upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) from a hold rating to a buy rating in a research report released on Monday morning.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Down 2.1 %

Shares of EBR stock opened at $7.15 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.33 and a current ratio of 2.35. The business has a 50 day moving average of $7.24 and a two-hundred day moving average of $7.34. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $6.21 and a 52 week high of $9.11.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.14 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%. As a group, equities analysts predict that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Beck Bode LLC lifted its holdings in 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 worth $11,358,000 after purchasing an additional 1,652,075 shares during the period. Millennium Management LLC boosted its holdings 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 acquiring an additional 1,100,233 shares in the last quarter. Barings LLC increased its stake in shares of 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 valued at $8,299,000 after acquiring an additional 689,593 shares during the period. Van ECK Associates Corp increased its stake 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 acquiring an additional 257,613 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the second quarter worth approximately $938,000. 6.54% 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.