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

Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) gapped up before the market opened on Monday . The stock had previously closed at $5.92, but opened at $6.09. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $6.03, with a volume of 112,180 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. 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. Hsbc Global Res upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a report on Tuesday, October 15th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Down 0.7 %

The firm has a 50-day moving average price of $5.85 and a two-hundred day moving average price of $6.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.06.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

The business also recently disclosed a — dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, December 30th were issued a dividend of $0.1414 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a yield of 1%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 30.5% in the third quarter. Sequoia Financial Advisors LLC now owns 21,755 shares of the utilities provider’s stock valued at $157,000 after acquiring an additional 5,089 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 3rd quarter valued at about $1,600,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 3rd quarter valued at about $4,338,000. Metis Global Partners LLC grew its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 12.3% during the 3rd quarter. Metis Global Partners LLC now owns 36,010 shares of the utilities provider’s stock worth $260,000 after buying an additional 3,934 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 36.7% in the second quarter. Thrivent Financial for Lutherans now owns 362,019 shares of the utilities provider’s stock valued at $2,328,000 after buying an additional 97,166 shares during the last quarter. Institutional investors and hedge funds own 2.64% 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.