Thrivent Financial for Lutherans Sells 3,009 Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)

Thrivent Financial for Lutherans decreased its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 359,010 shares of the utilities provider’s stock after selling 3,009 shares during the period. Thrivent Financial for Lutherans’ holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás were worth $2,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EBR. Natixis Advisors LLC raised its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 12.3% during the third quarter. Natixis Advisors LLC now owns 50,727 shares of the utilities provider’s stock valued at $367,000 after purchasing an additional 5,552 shares during the period. Metis Global Partners LLC increased its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 12.3% during the 3rd quarter. Metis Global Partners LLC now owns 36,010 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 3,934 shares during the last quarter. Van ECK Associates Corp raised its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 503,475 shares of the utilities provider’s stock valued at $3,358,000 after buying an additional 8,975 shares during the period. Deltec Asset Management LLC lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 9.1% in the third quarter. Deltec Asset Management LLC now owns 120,000 shares of the utilities provider’s stock worth $868,000 after buying an additional 10,000 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 22.0% during the third quarter. Signaturefd LLC now owns 9,353 shares of the utilities provider’s stock worth $68,000 after buying an additional 1,685 shares during the period. Hedge funds and other institutional investors own 6.54% of the company’s stock.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

Shares of NYSE EBR opened at $6.31 on Wednesday. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a fifty-two week low of $6.00 and a fifty-two week high of $9.11. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average price is $6.75 and its 200-day moving average price is $6.94.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EBR. StockNews.com raised shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th. Hsbc Global Res raised shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research report on Tuesday, October 15th.

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.