Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Bought by First Affirmative Financial Network

First Affirmative Financial Network raised its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) by 41.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,122 shares of the utilities provider’s stock after purchasing an additional 8,307 shares during the quarter. First Affirmative Financial Network’s holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Atomi Financial Group Inc. boosted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 41.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 32,264 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 9,437 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% in the 2nd quarter. Millennium Management LLC now owns 1,580,932 shares of the utilities provider’s stock valued at $10,165,000 after purchasing an additional 1,100,233 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 14.2% in the 2nd quarter. AQR Capital Management LLC now owns 71,414 shares of the utilities provider’s stock valued at $459,000 after purchasing an additional 8,878 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 2nd quarter valued at $938,000. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 36.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 362,019 shares of the utilities provider’s stock valued at $2,328,000 after acquiring an additional 97,166 shares in the last quarter. Institutional investors and hedge funds own 6.54% of the company’s stock.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

NYSE:EBR opened at $6.81 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.33 and a current ratio of 2.35. The firm’s fifty day simple moving average is $7.32 and its 200 day simple moving average is $7.21. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a twelve month low of $6.21 and a twelve month high of $9.11.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.14 earnings per share for the quarter. The business 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%. As a group, research analysts expect that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.