Zacks Investment Research Upgrades Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) to Buy

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBRGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The brokerage presently has a $10.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.89% from the company’s current price.

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 lowered Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 14th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás stock traded down $0.13 during midday trading on Friday, hitting $9.10. 3,192,203 shares of the stock were exchanged, compared to its average volume of 1,850,975. The company has a fifty day simple moving average of $8.28 and a two-hundred day simple moving average of $6.94. The company has a quick ratio of 1.73, a current ratio of 1.71 and a debt-to-equity ratio of 0.42. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $5.16 and a 52 week high of $9.61.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBRGet Rating) last announced 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 17.30% and a return on equity of 7.70%. The company 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 0.45 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in EBR. Fieldpoint Private Securities LLC lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 520.6% during the 4th quarter. Fieldpoint Private Securities LLC now owns 4,065 shares of the utilities provider’s stock worth $25,000 after buying an additional 3,410 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 49.0% during 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 last quarter. BNP Paribas Arbitrage SA boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 231.8% during the third quarter. BNP Paribas Arbitrage SA now owns 6,038 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 4,218 shares during the last quarter. Squarepoint Ops LLC bought a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the fourth quarter valued at approximately $61,000. Finally, Retirement Planning Co of New England Inc. acquired a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 4th quarter worth approximately $67,000. 1.47% of the stock is owned by hedge funds and other institutional investors.

About Centrais Elétricas Brasileiras S.A. – Eletrobrás (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.

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