Comp En De Mn Cemig ADS (NYSE:CIG) Sets New 52-Week High – Here’s What Happened

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 $2.30 and last traded at $2.2750, with a volume of 694231 shares changing hands. The stock had previously closed at $2.19.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Comp En De Mn Cemig ADS in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Comp En De Mn Cemig ADS currently has an average rating of “Hold”.

Comp En De Mn Cemig ADS Trading Down 2.0%

The stock has a 50-day moving average of $2.06 and a two-hundred day moving average of $1.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $6.37 billion, a P/E ratio of 10.11 and a beta of 1.12.

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

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in shares of Comp En De Mn Cemig ADS by 14.0% in the third quarter. Russell Investments Group Ltd. now owns 413,394 shares of the utilities provider’s stock worth $872,000 after purchasing an additional 50,778 shares during the period. PFG Advisors boosted its holdings in Comp En De Mn Cemig ADS by 34.2% in the 3rd quarter. PFG Advisors now owns 18,392 shares of the utilities provider’s stock worth $39,000 after buying an additional 4,685 shares during the period. SPX Gestao de Recursos Ltda increased its stake in Comp En De Mn Cemig ADS by 1,385.6% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 320,778 shares of the utilities provider’s stock worth $677,000 after buying an additional 299,185 shares in the last quarter. Longfellow Investment Management Co. LLC raised its holdings in Comp En De Mn Cemig ADS by 25.0% during the third quarter. Longfellow Investment Management Co. LLC now owns 534,450 shares of the utilities provider’s stock valued at $1,128,000 after acquiring an additional 106,797 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Comp En De Mn Cemig ADS by 6.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,029,799 shares of the utilities provider’s stock valued at $2,173,000 after acquiring an additional 61,482 shares in the last quarter.

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.