Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

Shares of NYSE EBR opened at $6.43 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.41. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a fifty-two week low of $6.21 and a fifty-two week high of $9.11. The stock has a fifty day moving average of $7.03 and a 200-day moving average of $7.95.

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

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 9th were paid a $0.059 dividend. This is a positive change from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a yield of 0.8%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EBR. Sivia Capital Partners LLC purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 4th quarter valued at about $98,000. Citigroup Inc. increased its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 81.4% during the third quarter. Citigroup Inc. now owns 13,672 shares of the utilities provider’s stock valued at $100,000 after buying an additional 6,135 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 115.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,529 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 6,704 shares during the period. First Affirmative Financial Network lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 17.0% during the 4th quarter. First Affirmative Financial Network now owns 13,642 shares of the utilities provider’s stock valued at $118,000 after buying an additional 1,978 shares in the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter valued at approximately $119,000. 6.54% of the stock is owned by hedge funds and other institutional investors.

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.