Millennium Management LLC Increases Holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)

Millennium Management LLC raised its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) by 228.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,580,932 shares of the utilities provider’s stock after acquiring an additional 1,100,233 shares during the quarter. Millennium Management LLC owned approximately 0.07% of Centrais Elétricas Brasileiras S.A. – Eletrobrás worth $10,165,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Beck Bode LLC lifted its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% during 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 last quarter. Barings LLC lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% during the 1st 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 last quarter. Van ECK Associates Corp boosted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 108.7% in the 2nd 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 2nd quarter valued at $938,000. Finally, Thrivent Financial for Lutherans grew its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 36.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 362,019 shares of the utilities provider’s stock valued at $2,328,000 after buying an additional 97,166 shares during the last quarter. Hedge funds and other institutional investors own 6.54% of the company’s stock.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Up 0.9 %

Shares of NYSE EBR opened at $7.04 on Wednesday. The stock has a market cap of $16.19 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 2.20 and a beta of 1.09. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52-week low of $6.21 and a 52-week high of $9.11. The business has a 50-day moving average price of $7.32 and a 200 day moving average price of $7.24. 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 announced its 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 business had revenue of $1.61 billion for the quarter. Equities research analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd.

Centrais Elétricas Brasileiras S.A. – Eletrobrás 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.