Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Upgraded by Hsbc Global Res to Strong-Buy

Hsbc Global Res upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) to a strong-buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

Separately, StockNews.com raised shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Down 1.0 %

EBR opened at $6.70 on Tuesday. The stock has a 50-day moving average of $7.32 and a 200 day moving average of $7.17. The company has a current ratio of 2.35, a quick ratio of 2.33 and a debt-to-equity ratio of 0.54. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 12 month low of $6.21 and a 12 month high of $9.11. The firm has a market cap of $15.41 billion, a P/E ratio of 8.47, a P/E/G ratio of 2.11 and a beta of 1.09.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last announced its earnings results on Thursday, August 8th. The utilities provider reported $0.14 EPS for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 4.18% and a net margin of 13.37%. The firm had revenue of $1.61 billion during the quarter. As a group, research analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Beck Bode LLC lifted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% during the 2nd quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock worth $11,358,000 after acquiring an additional 1,652,075 shares during the last quarter. Van ECK Associates Corp increased its stake in 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 purchasing an additional 257,613 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the third quarter worth $1,600,000. Thrivent Financial for Lutherans boosted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 36.7% during the second quarter. Thrivent Financial for Lutherans now owns 362,019 shares of the utilities provider’s stock valued at $2,328,000 after purchasing an additional 97,166 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 232.4% in the second quarter. Blue Trust Inc. now owns 5,748 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 4,019 shares during the last quarter. Hedge funds and other institutional investors own 6.54% of the company’s stock.

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.