Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Stock Price Up 3.6% - What's Next?

Shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Get Free Report) were up 3.6% during trading on Tuesday . The company traded as high as $5.81 and last traded at $5.80. Approximately 1,007,005 shares changed hands 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.

Analysts Set New Price Targets

A number of research analysts have 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 research note on Friday, November 8th. Hsbc Global Res upgraded Centrais Elétricas Brasileiras S.A. - Eletrobrás to a "strong-buy" rating in a research report on Tuesday, October 15th.

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 firm's 50-day moving average price is $6.12 and its two-hundred day moving average price is $6.73. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 1.90 and a beta of 1.07.

Centrais Elétricas Brasileiras S.A. - Eletrobrás Cuts Dividend

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

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EBR. Signaturefd LLC lifted its holdings in shares of 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 acquiring an additional 4,867 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 26.0% during the third quarter. Sivia Capital Partners LLC now owns 12,798 shares of the utilities provider's stock worth $93,000 after purchasing an additional 2,642 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 30.5% during the third quarter. Sequoia Financial Advisors LLC now owns 21,755 shares of the utilities provider's stock worth $157,000 after buying an additional 5,089 shares during the period. Quantinno Capital Management LP grew its stake in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 55.6% in the third quarter. Quantinno Capital Management LP now owns 21,938 shares of the utilities provider's stock valued at $159,000 after buying an additional 7,843 shares in the last quarter. Finally, First Affirmative Financial Network raised its holdings in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 41.9% in the 3rd quarter. First Affirmative Financial Network now owns 28,122 shares of the utilities provider's stock valued at $203,000 after buying an additional 8,307 shares during the period. Institutional investors and hedge funds own 2.64% of the company's stock.

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.