Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Stock Price Up 3.6% – Still a Buy?

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) shares rose 3.6% during trading on Tuesday . The stock 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.

Analyst Upgrades and Downgrades

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

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.06. The stock has a market cap of $13.44 billion, a P/E ratio of 8.34, a P/E/G ratio of 1.90 and a beta of 1.07. The business’s 50-day moving average price is $6.12 and its 200-day moving average price is $6.73.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

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

Institutional Investors Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 173.8% in the 2nd quarter. Signaturefd LLC now owns 7,668 shares of the utilities provider’s stock worth $49,000 after buying an additional 4,867 shares during the period. Van ECK Associates Corp lifted its position 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 valued at $3,180,000 after acquiring an additional 257,613 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 7.0% in the second quarter. American Century Companies Inc. now owns 395,550 shares of the utilities provider’s stock worth $2,543,000 after acquiring an additional 26,010 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the second quarter worth about $386,000. Finally, Beck Bode LLC raised its stake in 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 valued at $11,358,000 after purchasing an additional 1,652,075 shares during the period. 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.