Comp En De Mn Cemig ADS (NYSE:CIG) Sets New 12-Month High – Time to Buy?

Comp En De Mn Cemig ADS (NYSE:CIG) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $2.15 and last traded at $2.1350, with a volume of 772904 shares changing hands. The stock had previously closed at $2.13.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Comp En De Mn Cemig ADS in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Stock Up 0.2%

The firm has a market capitalization of $6.11 billion, a PE ratio of 9.70 and a beta of 1.12. The company has a fifty day simple moving average of $2.03 and a two-hundred day simple moving average of $1.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced its earnings results on Thursday, August 14th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Comp En De Mn Cemig ADS had a return on equity of 16.30% and a net margin of 15.68%. Analysts forecast that Comp En De Mn Cemig ADS will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Comp En De Mn Cemig ADS by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 6,227 shares during the last quarter. Invested Advisors acquired a new position in Comp En De Mn Cemig ADS in the third quarter valued at approximately $40,000. MAI Capital Management purchased a new position in shares of Comp En De Mn Cemig ADS in the 2nd quarter valued at $41,000. EverSource Wealth Advisors LLC increased its position in shares of Comp En De Mn Cemig ADS by 224.2% during the second quarter. EverSource Wealth Advisors LLC now owns 23,648 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 16,354 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Comp En De Mn Cemig ADS during the second quarter worth approximately $62,000.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.