Brazilian Electric Power (NYSE:AXIA) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Brazilian Electric Power (NYSE:AXIA) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Separately, Weiss Ratings initiated coverage on Brazilian Electric Power in a research report on Tuesday, April 7th. They set a “hold (c)” rating for the company. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Brazilian Electric Power Stock Down 0.1%

Shares of AXIA opened at $10.37 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a 50 day moving average of $10.87. Brazilian Electric Power has a 52 week low of $6.71 and a 52 week high of $13.54. The company has a market cap of $29.35 billion, a PE ratio of 57.58, a P/E/G ratio of 1.49 and a beta of 0.45.

Insider Transactions at Brazilian Electric Power

In related news, Director De Lima Filho Pedro Batista sold 3,938,700 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $11.86, for a total transaction of $46,712,982.00. Following the sale, the director directly owned 122,350 shares of the company’s stock, valued at approximately $1,451,071. This represents a 96.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 4,986,000 shares of company stock valued at $57,860,564 and have sold 16,605,957 shares valued at $185,227,955.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Traveka Wealth LLC bought a new position in shares of Brazilian Electric Power in the first quarter worth approximately $118,000. Sequoia Financial Advisors LLC increased its position in shares of Brazilian Electric Power by 4.5% during the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company’s stock valued at $210,000 after acquiring an additional 802 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Brazilian Electric Power by 1.8% during the first quarter. Principal Financial Group Inc. now owns 89,314 shares of the company’s stock valued at $1,007,000 after acquiring an additional 1,559 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Brazilian Electric Power by 28.2% in the 1st quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company’s stock worth $248,000 after acquiring an additional 4,834 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Brazilian Electric Power in the 1st quarter worth approximately $150,000. 2.64% of the stock is owned by hedge funds and other institutional investors.

Brazilian Electric Power 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 hydroelectric, thermal, nuclear, wind, and solar plants. As of December 31, 2020, it owned and operated 31 hydroelectric plants with a total installed capacity of 50,648 megawatts; seven thermal plants, including coal, and oil and gas power generation units with a total installed capacity of 1,595 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.