Comp En De Mn Cemig ADS (NYSE:CIG) Sets New 1-Year High – What’s Next?

Comp En De Mn Cemig ADS (NYSE:CIG) reached a new 52-week high during trading on Thursday . The stock traded as high as $2.30 and last traded at $2.2950, with a volume of 9295748 shares traded. The stock had previously closed at $2.16.

Wall Street Analyst Weigh In

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

Comp En De Mn Cemig ADS Trading Up 6.2%

The stock has a market cap of $6.57 billion, a PE ratio of 11.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.89. The company’s fifty day moving average is $2.07 and its 200-day moving average is $2.04.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced its earnings results on Tuesday, January 20th. The utilities provider reported $0.16 EPS for the quarter. Comp En De Mn Cemig ADS had a return on equity of 14.96% and a net margin of 9.45%. On average, analysts predict that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Comp En De Mn Cemig ADS Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, January 7th. Investors of record on Monday, December 29th were given a dividend of $0.0264 per share. The ex-dividend date was Monday, December 29th. Comp En De Mn Cemig ADS’s dividend payout ratio (DPR) is presently 85.00%.

Institutional Trading of Comp En De Mn Cemig ADS

Large investors have recently modified their holdings of the stock. American Century Companies Inc. increased its position in shares of Comp En De Mn Cemig ADS by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock valued at $7,387,000 after purchasing an additional 850,358 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Comp En De Mn Cemig ADS by 382.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock valued at $889,000 after purchasing an additional 359,232 shares in the last quarter. Atria Investments Inc acquired a new position in Comp En De Mn Cemig ADS during the second quarter worth $394,000. Envestnet Asset Management Inc. raised its position in Comp En De Mn Cemig ADS by 2,157.2% during the second quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock worth $4,571,000 after acquiring an additional 2,228,591 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Comp En De Mn Cemig ADS by 158.4% in 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 during the last quarter.

Comp En De Mn Cemig ADS Company Profile

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.