Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Up to $6.58

Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) gapped up prior to trading on Wednesday . The stock had previously closed at $6.58, but opened at $6.76. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $6.81, with a volume of 110,455 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Up 4.0 %

The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.41. The business’s 50-day simple moving average is $7.00 and its 200 day simple moving average is $7.92.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.03 EPS for the quarter. The company had revenue of $1.76 billion during the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 12.98% and a return on equity of 4.18%. On average, equities research analysts expect 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 announced an annual dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th were issued a $0.059 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This is an increase from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04. This represents a yield of 0.8%.

Hedge Funds Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Several institutional investors and hedge funds have recently bought and sold shares of the company. Beck Bode LLC purchased a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 1st quarter valued at approximately $955,000. Barings LLC lifted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% during the first quarter. Barings LLC now owns 993,886 shares of the utilities provider’s stock worth $8,299,000 after buying an additional 689,593 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter valued at $98,000. Barometer Capital Management Inc. acquired a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 4th quarter valued at $119,000. Finally, Tower Research Capital LLC TRC raised its stake 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 acquiring an additional 6,704 shares during the last quarter. 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.