Comp En De Mn Cemig ADS (NYSE:CIG) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Comp En De Mn Cemig ADS (NYSE:CIG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.03 and traded as high as $2.20. Comp En De Mn Cemig ADS shares last traded at $2.1650, with a volume of 14,491,546 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Comp En De Mn Cemig ADS in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Comp En De Mn Cemig ADS Trading Up 0.2%

The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 10.83 and a beta of 0.90. The business has a 50-day simple moving average of $2.06 and a two-hundred day simple moving average of $2.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.89 and a current ratio of 0.89.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced its quarterly earnings data on Tuesday, January 20th. The utilities provider reported $0.16 EPS for the quarter. Comp En De Mn Cemig ADS had a net margin of 9.45% and a return on equity of 14.96%. As a group, research analysts forecast that Comp En De Mn Cemig ADS will post 0.44 EPS for the current year.

Comp En De Mn Cemig ADS Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, January 7th. Investors of record on Monday, December 29th were given a $0.0264 dividend. The ex-dividend date of this dividend was Monday, December 29th. Comp En De Mn Cemig ADS’s payout ratio is currently 85.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in shares of Comp En De Mn Cemig ADS by 2,157.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock worth $4,571,000 after purchasing an additional 2,228,591 shares in the last quarter. American Century Companies Inc. increased its holdings in Comp En De Mn Cemig ADS by 29.1% during the second quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock worth $7,387,000 after buying an additional 850,358 shares during the last quarter. Pzena Investment Management LLC raised its position in Comp En De Mn Cemig ADS by 26.7% during the third quarter. Pzena Investment Management LLC now owns 2,012,194 shares of the utilities provider’s stock worth $4,246,000 after acquiring an additional 424,100 shares in the last quarter. Corient Private Wealth LLC raised its position in Comp En De Mn Cemig ADS by 158.4% during the second quarter. Corient Private Wealth LLC now owns 590,870 shares of the utilities provider’s stock worth $1,158,000 after acquiring an additional 362,171 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Comp En De Mn Cemig ADS by 382.4% in the second quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock valued at $889,000 after acquiring an additional 359,232 shares during the last quarter.

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais SA (Cemig ADS) is a leading Brazilian energy company primarily engaged in the generation, transmission, distribution and commercialization of electric power. Headquartered in Belo Horizonte, the company operates as a vertically integrated utility, serving residential, commercial and industrial customers across its concession areas. In addition to its core electricity business, Cemig maintains interests in natural gas distribution and distinct energy-related ventures, including renewable sources and infrastructure projects.

In its generation segment, Cemig manages a diversified portfolio that includes hydroelectric, photovoltaic and wind power plants.