Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Down to $7.83

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) shares gapped down before the market opened on Thursday . The stock had previously closed at $7.83, but opened at $7.46. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $7.33, with a volume of 195,336 shares trading hands.

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 research note on Saturday, February 17th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.75 and a current ratio of 1.76. The business’s 50 day moving average is $8.08 and its two-hundred day moving average is $8.20.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th will be issued a $0.059 dividend. This is an increase from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04. This represents a yield of 0.8%. The ex-dividend date is Wednesday, May 8th.

Institutional Trading of Centrais Elétricas Brasileiras S.A. – Eletrobrás

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barings LLC increased its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% in 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. Itau Unibanco Holding S.A. grew its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 102.2% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,101,685 shares of the utilities provider’s stock valued at $8,053,000 after purchasing an additional 556,886 shares during the last quarter. Van ECK Associates Corp grew its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 88.5% during the 4th quarter. Van ECK Associates Corp now owns 447,979 shares of the utilities provider’s stock valued at $3,862,000 after purchasing an additional 210,327 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 32.6% during the 4th quarter. Mackenzie Financial Corp now owns 371,263 shares of the utilities provider’s stock valued at $3,200,000 after purchasing an additional 91,177 shares during the last quarter. Finally, Alpine Global Management LLC bought a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 3rd quarter valued at about $249,000. 6.54% of the stock is currently owned by institutional investors.

About Centrais Elétricas Brasileiras S.A. – Eletrobrás

Centrais Elétricas Brasileiras SA – Eletrobrás, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. It owned and operated 32 hydroelectric plants; As of December 31, 2022, it operated 32 hydroelectric plants; five thermal plants, including coal and gas power generation units with a total installed capacity of 1,482 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.