Public Employees Retirement System of Ohio Invests $433,000 in Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)

Public Employees Retirement System of Ohio bought a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) during the third quarter, Holdings Channel reports. The institutional investor bought 59,918 shares of the utilities provider’s stock, valued at approximately $433,000.

Several other hedge funds also recently modified their holdings of the stock. Beck Bode LLC lifted its stake in 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 acquiring an additional 1,652,075 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 30.5% during the third quarter. Sequoia Financial Advisors LLC now owns 21,755 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 5,089 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the third quarter worth about $1,600,000. Van ECK Associates Corp boosted its holdings in 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 worth $3,180,000 after purchasing an additional 257,613 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 3rd quarter worth approximately $4,338,000. Hedge funds and other institutional investors own 2.64% of the company’s stock.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

NYSE EBR opened at $5.80 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.06. The company has a market capitalization of $13.35 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52-week low of $5.46 and a 52-week high of $9.11. The company has a 50-day simple moving average of $6.27 and a 200 day simple moving average of $6.78.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EBR shares. Hsbc Global Res upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th.

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.