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

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

EBR opened at $6.33 on Wednesday. The company has a fifty day moving average price of $7.15 and a 200-day moving average price of $8.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.56 and a current ratio of 1.57. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a one year low of $6.32 and a one year high of $9.11.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last released its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.03 EPS for the quarter. The firm had revenue of $1.76 billion during the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 12.98% and a return on equity of 4.18%. Sell-side analysts anticipate that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barings LLC purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the fourth quarter worth $2,623,000. Van ECK Associates Corp grew its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 88.5% in the fourth quarter. Van ECK Associates Corp now owns 447,979 shares of the utilities provider’s stock worth $3,862,000 after acquiring an additional 210,327 shares in the last quarter. Alpine Global Management LLC purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the third quarter worth $249,000. O Shaughnessy Asset Management LLC grew its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 35.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 28,699 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 7,537 shares in the last quarter. Finally, Citigroup Inc. grew its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 81.4% in the third quarter. Citigroup Inc. now owns 13,672 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 6,135 shares in the last quarter. 6.54% of the stock is currently owned by hedge funds and other 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.