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

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

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

Shares of EBR traded down $0.09 during midday trading on Monday, hitting $7.17. 748,206 shares of the company traded hands, compared to its average volume of 952,747. The firm has a 50 day moving average of $7.24 and a 200-day moving average of $7.35. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $6.21 and a 52 week high of $9.11. The stock has a market cap of $16.50 billion, a price-to-earnings ratio of 9.19, a PEG 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 released 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%. On average, analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 EPS for the current fiscal year.

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

Several hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 232.4% in the second quarter. Blue Trust Inc. now owns 5,748 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 4,019 shares in the last quarter. Signaturefd LLC grew its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 173.8% during the 2nd quarter. Signaturefd LLC now owns 7,668 shares of the utilities provider’s stock worth $49,000 after buying an additional 4,867 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 18.7% during the second quarter. SG Americas Securities LLC now owns 14,516 shares of the utilities provider’s stock valued at $93,000 after acquiring an additional 2,284 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter valued at $98,000. Finally, Barometer Capital Management Inc. purchased a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the fourth quarter worth about $119,000. 6.54% of the stock is currently owned by 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.