Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Rating Lowered to Hold at Zacks Investment Research

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Electrobras is involved in the Utilities Industry. Their principal activity is the generation and distribution of electric power through their companies to the whole of Brazil. Some of their other activities include development of technology programs, technical standards and industrial quality. “

Separately, StockNews.com downgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 14th.

Shares of NYSE EBR traded up $0.43 during mid-day trading on Thursday, reaching $8.93. The company had a trading volume of 3,544,590 shares, compared to its average volume of 1,763,872. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a twelve month low of $5.16 and a twelve month high of $9.61. The company has a current ratio of 1.78, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $7.99 and its 200-day moving average is $6.82.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR – Get Rating) last posted its quarterly earnings results on Friday, March 18th. The utilities provider reported $0.08 earnings per share for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 14.69% and a return on equity of 7.26%. The business had revenue of $2.06 billion for the quarter. As a group, sell-side analysts anticipate that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.46 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,300.0% in the fourth quarter. Millennium Management LLC now owns 1,686,095 shares of the utilities provider’s stock valued at $10,268,000 after purchasing an additional 1,565,662 shares during the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the first quarter valued at about $6,334,000. Mackenzie Financial Corp acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the first quarter valued at about $5,114,000. Qube Research & Technologies Ltd grew its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 2,572.5% in the fourth quarter. Qube Research & Technologies Ltd now owns 362,955 shares of the utilities provider’s stock valued at $2,210,000 after purchasing an additional 349,374 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 881.2% in the first quarter. Goldman Sachs Group Inc. now owns 330,688 shares of the utilities provider’s stock valued at $2,616,000 after purchasing an additional 296,986 shares during the last quarter. 1.47% of the stock is currently owned by hedge funds and other institutional investors.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Company Profile (Get Rating)

Centrais Elétricas Brasileiras SA – Eletrobras, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. As of December 31, 2021, it owned and operated 32 hydroelectric plants with a total installed capacity of 46,295.75 megawatts; nine thermal plants, including coal, and oil and gas power generation units with a total installed capacity of 1,505 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.

Further Reading