Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBRFree Report) from a buy rating to a hold rating in a report published on Friday.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Up 0.6 %

EBR opened at $8.84 on Friday. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $5.67 and a 52 week high of $8.99. The business’s 50 day moving average is $8.49 and its two-hundred day moving average is $7.77. The company has a quick ratio of 1.86, a current ratio of 1.88 and a debt-to-equity ratio of 0.49.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EBR. Envestnet Asset Management Inc. increased its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 13.9% in the first quarter. Envestnet Asset Management Inc. now owns 13,966 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 1,699 shares during the period. Advisor Group Holdings Inc. increased its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 49.0% in the first quarter. Advisor Group Holdings Inc. now owns 4,898 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,611 shares during the period. American Century Companies Inc. increased its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 127.8% in the first quarter. American Century Companies Inc. now owns 58,698 shares of the utilities provider’s stock valued at $464,000 after purchasing an additional 32,935 shares during the period. Bank of Montreal Can increased its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 27.7% in the first quarter. Bank of Montreal Can now owns 70,541 shares of the utilities provider’s stock valued at $541,000 after purchasing an additional 15,296 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the first quarter valued at approximately $84,000. Institutional investors and hedge funds own 1.11% of the company’s stock.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Company Profile

(Get Free Report)

Centrais Elétricas Brasileiras SA – Eletrobrás, 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. It owned and operated 32 hydroelectric plants; As of December 31, 2022, it operated 32 hydroelectric plants; five thermal plants, including coal and gas power generation units with a total installed capacity of 1,482 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.

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