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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Petróleo Brasileiro S.A. - Petrobras    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
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Brazilian power firm shares slide on electricity price policy fears

02/22/2021 | 10:05am EST

SAO PAULO, Feb 22 (Reuters) - Shares in the largest Brazilian power companies lost ground on Monday amid a larger market rout, after President Jair Bolsonaro promised to take steps to drive down electricity prices.

Brazil's IEE index of power firms was down 4.3% in mid-morning trade, while the broader market index was 4.9% lower.

Preferred shares in state-controlled power holding Centrais Eletricas Brasileiras, known as Eletrobras, lost 6.1%, while shares in private firms CPFL Energia SA and Energisa fell 6.5% and 5.5% respectively.

Brazilian newspaper Folha de S. Paulo reported on Monday that Bolsonaro was considering using public funds and tax cuts to reduce consumer utility bills, after he promised over the weekend to intervene in the sector rein in prices.

Bolsonaro's comments follow his move to replace the chief executive of Petroleo Brasileiro SA, known as Petrobras, after state-run oil company raised diesel prices by 15% in recent weeks.

Bolsonaro, a right-wing populist politician, said on Saturday he would reverse the trend of rising energy prices that he described as an attack on his presidency.

"Just as I said they wanted to bring me down in the pandemic by closing the entire economy, now they've decided to attack me via energy," he told supporters. "We're going to stick our finger into the electric sector, which is another problem."

Power regulator Aneel estimates tariffs will rise 13% this year.

Aneel, the Energy Ministry and the presidential palace did not immediately reply to requests for comment.

The former chief executive of Eletrobras resigned last month citing hurdles to a proposed privatization of the company. (Reporting by Luciano Costa and Tatiana Bautzer; Editing by Andrew Cawthorne)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS -0.64% 32.63 End-of-day quote.-11.81%
CPFL ENERGIA S.A. -0.37% 29.39 End-of-day quote.-9.71%
PETROBRAS DISTRIBUIDORA S.A. -0.20% 20.25 End-of-day quote.-8.50%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS 0.77% 22.39 End-of-day quote.-21.00%
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Financials
Sales 2021 364 B 63 573 M 63 573 M
Net income 2021 43 911 M 7 659 M 7 659 M
Net Debt 2021 299 B 52 089 M 52 089 M
P/E ratio 2021 8,79x
Yield 2021 3,46%
Capitalization 290 B 50 667 M 50 511 M
EV / Sales 2021 1,61x
EV / Sales 2022 1,40x
Nbr of Employees 49 050
Free-Float 64,3%
Chart PETRÓLEO BRASILEIRO S.A. - PETROBRAS
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Petróleo Brasileiro S.A. - Petrobras Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 28,83 BRL
Last Close Price 22,39 BRL
Spread / Highest target 66,6%
Spread / Average Target 28,8%
Spread / Lowest Target 7,19%
EPS Revisions
Managers and Directors
NameTitle
Roberto da Cunha Castello Branco President, Chief Executive Officer & Director
Andrea Marques De Almeida Chief Financial & Investor Relations Officer
Eduardo Bacellar Leal Ferreira Chairman
Marcelo da Silva Carreras Head-IT & Telecommunications
Marcia Tosta Head-Cyber & Information Security
Sector and Competitors
1st jan.Capitalization (M$)
PETRÓLEO BRASILEIRO S.A. - PETROBRAS-21.00%50 771
SAUDI ARABIAN OIL COMPANY2.29%1 907 502
ROYAL DUTCH SHELL PLC24.07%163 968
TOTAL SE16.08%128 173
PETROCHINA COMPANY LIMITED22.08%118 145
GAZPROM5.95%71 531