TheStreet upgraded shares of Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Separately, Zacks Investment Research raised shares of Companhia Energetica de Minas Gerais from a sell rating to a hold rating and set a $3.25 price objective for the company in a research note on Monday, August 1st.

Shares of Companhia Energetica de Minas Gerais (NYSE:CIG) traded down 4.58% during mid-day trading on Wednesday, hitting $2.29. The stock had a trading volume of 2,004,063 shares. The stock has a 50-day moving average price of $2.67 and a 200 day moving average price of $2.42. Companhia Energetica de Minas Gerais has a 52 week low of $1.02 and a 52 week high of $3.08. The stock has a market cap of $2.88 billion, a P/E ratio of 10.50 and a beta of 1.98.

ILLEGAL ACTIVITY NOTICE: “Companhia Energetica de Minas Gerais S.A. (CIG) Upgraded to Hold by TheStreet” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another publication, it was illegally copied and republished in violation of US and international trademark and copyright law. The original version of this report can be accessed at https://www.thecerbatgem.com/2016/11/26/companhia-energetica-de-minas-gerais-s-a-cig-upgraded-to-hold-by-thestreet.html.

A number of institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its position in Companhia Energetica de Minas Gerais by 31.2% in the second quarter. Parametric Portfolio Associates LLC now owns 11,003,391 shares of the company’s stock worth $24,317,000 after buying an additional 2,614,207 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Companhia Energetica de Minas Gerais during the second quarter worth about $2,785,000. Emerald Acquisition Ltd. bought a new stake in shares of Companhia Energetica de Minas Gerais during the second quarter worth about $2,241,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of Companhia Energetica de Minas Gerais by 56.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,001,745 shares of the company’s stock worth $4,424,000 after buying an additional 722,850 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Companhia Energetica de Minas Gerais by 2,132.9% in the third quarter. Bank of Montreal Can now owns 749,242 shares of the company’s stock worth $1,941,000 after buying an additional 715,688 shares during the period. 3.70% of the stock is owned by hedge funds and other institutional investors.

About Companhia Energetica de Minas Gerais

Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. The Company generates electricity at approximately 78 hydroelectric plants, three thermoelectric plants and 23 wind farms.

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