Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Up 3.6% – Here’s What Happened

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) shares rose 3.6% during mid-day trading on Tuesday . The company traded as high as $5.81 and last traded at $5.80. Approximately 1,007,005 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 1,030,687 shares. The stock had previously closed at $5.60.

Wall Street Analyst Weigh In

EBR has been the topic of a number of research reports. StockNews.com upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. Hsbc Global Res raised shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research note on Tuesday, October 15th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

The firm has a 50 day moving average of $6.12 and a two-hundred day moving average of $6.73. The company has a market cap of $13.44 billion, a PE ratio of 8.34, a P/E/G ratio of 1.90 and a beta of 1.07. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, December 30th will be issued a dividend of $0.1414 per share. The ex-dividend date is Monday, December 30th. This represents a dividend yield of 1%. Centrais Elétricas Brasileiras S.A. – Eletrobrás’s payout ratio is presently 28.57%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Beck Bode LLC lifted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% during the second quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock valued at $11,358,000 after purchasing an additional 1,652,075 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% during the 2nd quarter. Millennium Management LLC now owns 1,580,932 shares of the utilities provider’s stock valued at $10,165,000 after acquiring an additional 1,100,233 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 3rd quarter valued at about $4,338,000. Van ECK Associates Corp grew its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 108.7% in the second quarter. Van ECK Associates Corp now owns 494,500 shares of the utilities provider’s stock worth $3,180,000 after acquiring an additional 257,613 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the third quarter valued at approximately $1,600,000. 2.64% of the stock is owned by hedge funds and other institutional investors.

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.