Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Stock Price Up 3.6% – Still a Buy?

Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) rose 3.6% during mid-day trading on Tuesday . The company traded as high as $5.81 and last traded at $5.80. Approximately 1,007,005 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 1,030,687 shares. The stock had previously closed at $5.60.

Analyst Upgrades and Downgrades

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

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

The company has a market cap of $13.16 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07. The business has a 50 day moving average of $6.08 and a 200 day moving average of $6.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 2.04.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

The business also recently announced a — dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, December 30th will be given a $0.1414 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a dividend yield of 1%. Centrais Elétricas Brasileiras S.A. – Eletrobrás’s dividend payout ratio is 28.57%.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its position 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 valued at $49,000 after acquiring an additional 4,867 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 26.0% in the 3rd quarter. Sivia Capital Partners LLC now owns 12,798 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 2,642 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of 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 valued at $157,000 after purchasing an additional 5,089 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 55.6% during the third quarter. Quantinno Capital Management LP now owns 21,938 shares of the utilities provider’s stock valued at $159,000 after purchasing an additional 7,843 shares in the last quarter. Finally, First Affirmative Financial Network grew its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 41.9% in the third quarter. First Affirmative Financial Network now owns 28,122 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 8,307 shares during the period. Hedge funds and other institutional investors own 2.64% of the company’s stock.

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.