Comp En De Mn Cemig ADS (NYSE:CIG) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Monday, August 7th.

Other equities research analysts have also recently issued reports about the stock. J P Morgan Chase & Co cut shares of Comp En De Mn Cemig ADS from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) raised shares of Comp En De Mn Cemig ADS from a “sell” rating to a “neutral” rating and raised their target price for the stock from $2.10 to $2.80 in a research report on Friday, July 14th. Finally, Morgan Stanley raised shares of Comp En De Mn Cemig ADS from an “underweight” rating to an “overweight” rating in a research report on Thursday, June 22nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Comp En De Mn Cemig ADS currently has a consensus rating of “Hold” and a consensus target price of $2.80.

Comp En De Mn Cemig ADS (NYSE:CIG) traded down 3.08% during midday trading on Monday, hitting $2.52. 3,127,430 shares of the stock were exchanged. The firm has a 50 day moving average of $2.65 and a 200-day moving average of $2.82. Comp En De Mn Cemig ADS has a 12-month low of $2.06 and a 12-month high of $3.84. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 15.65 and a beta of 1.89.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Gotham Asset Management LLC raised its position in Comp En De Mn Cemig ADS by 392.5% in the second quarter. Gotham Asset Management LLC now owns 78,149 shares of the utilities provider’s stock valued at $188,000 after buying an additional 62,282 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Comp En De Mn Cemig ADS by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 6,638,222 shares of the utilities provider’s stock valued at $15,932,000 after buying an additional 79,976 shares during the last quarter. Vanguard Group Inc. raised its position in Comp En De Mn Cemig ADS by 4.8% in the second quarter. Vanguard Group Inc. now owns 8,208,045 shares of the utilities provider’s stock valued at $19,699,000 after buying an additional 375,410 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in Comp En De Mn Cemig ADS during the second quarter valued at approximately $860,000. Finally, JPMorgan Chase & Co. raised its position in Comp En De Mn Cemig ADS by 67.4% in the second quarter. JPMorgan Chase & Co. now owns 509,284 shares of the utilities provider’s stock valued at $1,223,000 after buying an additional 205,013 shares during the last quarter. Hedge funds and other institutional investors own 3.20% of the company’s stock.

Comp En De Mn Cemig ADS Company Profile

Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.

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