Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Downgraded by 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 report released on Thursday morning.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

EBR opened at $6.43 on Thursday. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 1 year low of $6.21 and a 1 year high of $9.11. The company’s 50 day simple moving average is $7.03 and its 200 day simple moving average is $7.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.57 and a quick ratio of 1.56.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last released its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.03 earnings per share for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 4.18% and a net margin of 12.98%. The business had revenue of $1.76 billion for the quarter. On average, equities analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.49 EPS for the current year.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th were given a $0.059 dividend. This is an increase 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 Investors Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Several hedge funds and other institutional investors have recently bought and sold shares of EBR. Sivia Capital Partners LLC bought a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter worth $98,000. Citigroup Inc. lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 81.4% in the 3rd quarter. Citigroup Inc. now owns 13,672 shares of the utilities provider’s stock worth $100,000 after buying an additional 6,135 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of 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 valued at $108,000 after buying an additional 6,704 shares during the period. First Affirmative Financial Network raised its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 17.0% during the fourth quarter. First Affirmative Financial Network now owns 13,642 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 1,978 shares during the period. Finally, Barometer Capital Management Inc. bought a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the fourth quarter worth about $119,000. 6.54% of the stock is currently 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.