CENTRAIS ELETRI/S (NYSE:EBR) Cut to Hold at ValuEngine

ValuEngine lowered shares of CENTRAIS ELETRI/S (NYSE:EBR) from a buy rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

Shares of EBR traded up $0.09 on Thursday, reaching $10.87. The stock had a trading volume of 359,009 shares, compared to its average volume of 379,424. The company has a quick ratio of 1.31, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $9.66. CENTRAIS ELETRI/S has a 12-month low of $3.51 and a 12-month high of $11.16.

CENTRAIS ELETRI/S (NYSE:EBR) last released its earnings results on Tuesday, May 14th. The utilities provider reported $0.27 EPS for the quarter. The firm had revenue of $1.71 billion during the quarter.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC purchased a new position in shares of CENTRAIS ELETRI/S in the 4th quarter valued at approximately $231,000. Millennium Management LLC lifted its stake in shares of CENTRAIS ELETRI/S by 1,653.2% in the 4th quarter. Millennium Management LLC now owns 250,999 shares of the utilities provider’s stock valued at $1,594,000 after purchasing an additional 236,682 shares during the period. Sawtooth Solutions LLC purchased a new position in shares of CENTRAIS ELETRI/S in the 1st quarter valued at approximately $18,282,000. Dorsey Wright & Associates purchased a new position in shares of CENTRAIS ELETRI/S in the 1st quarter valued at approximately $4,147,000. Finally, BlackRock Inc. purchased a new position in shares of CENTRAIS ELETRI/S in the 4th quarter valued at approximately $242,000. Institutional investors own 0.81% of the company’s stock.

CENTRAIS ELETRI/S Company Profile

Centrais Elétricas Brasileiras SA – Eletrobras, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through thermal, nuclear, wind, and hydroelectric plants. As of December 31, 2017, it owned and operated 44 hydroelectric plants and held interests in various other plants with a total installed capacity of 42,350 Megawatts (MW); 112 thermal plants, including coal, and oil and gas power generation units with an installed capacity of 2,646 MW; and 2 nuclear power plants with an installed capacity of 1,990 MW.

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