Hsbc Holdings PLC Cuts Position in Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR)

Hsbc Holdings PLC lowered its stake in Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Free Report) by 34.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 444,573 shares of the utilities provider's stock after selling 230,803 shares during the period. Hsbc Holdings PLC's holdings in Centrais Elétricas Brasileiras S.A. - Eletrobrás were worth $2,859,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. SG Americas Securities LLC grew its position in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 18.7% in the 2nd quarter. SG Americas Securities LLC now owns 14,516 shares of the utilities provider's stock valued at $93,000 after buying an additional 2,284 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 232.4% during the 2nd quarter. Blue Trust Inc. now owns 5,748 shares of the utilities provider's stock worth $37,000 after purchasing an additional 4,019 shares in the last quarter. Signaturefd LLC grew its stake in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 173.8% during the 2nd quarter. Signaturefd LLC now owns 7,668 shares of the utilities provider's stock worth $49,000 after purchasing an additional 4,867 shares during the period. First Affirmative Financial Network increased its holdings in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 34.3% in the 2nd quarter. First Affirmative Financial Network now owns 19,815 shares of the utilities provider's stock valued at $127,000 after purchasing an additional 5,065 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás in the fourth quarter valued at about $98,000. Hedge funds and other institutional investors own 6.54% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás from a "hold" rating to a "buy" rating in a report on Monday.

Centrais Elétricas Brasileiras S.A. - Eletrobrás Price Performance

EBR stock traded up $0.17 during midday trading on Thursday, hitting $7.32. 661,520 shares of the stock were exchanged, compared to its average volume of 951,367. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.33 and a current ratio of 2.35. Centrais Elétricas Brasileiras S.A. - Eletrobrás has a fifty-two week low of $6.21 and a fifty-two week high of $9.11. The stock's 50-day moving average price is $7.24 and its 200-day moving average price is $7.34.

Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Get Free Report) last announced its earnings results on Thursday, August 8th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter. Centrais Elétricas Brasileiras S.A. - Eletrobrás had a net margin of 13.37% and a return on equity of 4.18%. The firm had revenue of $1.61 billion for the quarter. As a group, research analysts forecast that Centrais Elétricas Brasileiras S.A. - Eletrobrás will post 0.32 EPS for the current fiscal year.

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.