Comp En De Mn Cemig ADS $CIG Stock: Crossmark Global Holdings Inc. Reduces Position

Crossmark Global Holdings Inc. lowered its stake in shares of Comp En De Mn Cemig ADS (NYSE:CIG) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,802,585 shares of the utilities provider’s stock after selling 225,395 shares during the period. Crossmark Global Holdings Inc.’s holdings in Comp En De Mn Cemig ADS were worth $7,985,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. DGS Capital Management LLC grew its position in shares of Comp En De Mn Cemig ADS by 8.9% in the first quarter. DGS Capital Management LLC now owns 51,523 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 4,196 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Comp En De Mn Cemig ADS by 8.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 61,280 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 4,612 shares during the period. Corient Private Wealth LLC raised its stake in shares of Comp En De Mn Cemig ADS by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 594,303 shares of the utilities provider’s stock valued at $1,190,000 after purchasing an additional 4,800 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Comp En De Mn Cemig ADS by 25.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 32,511 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 6,588 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Comp En De Mn Cemig ADS by 61.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,445 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 6,652 shares in the last quarter.

Comp En De Mn Cemig ADS Price Performance

Shares of NYSE:CIG opened at $2.29 on Friday. The company has a 50 day moving average of $2.14 and a 200 day moving average of $2.21. The stock has a market cap of $6.54 billion, a P/E ratio of 12.03 and a beta of 0.76. Comp En De Mn Cemig ADS has a 12 month low of $1.87 and a 12 month high of $2.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Analysts Set New Price Targets

Several brokerages have commented on CIG. Weiss Ratings upgraded Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 6th. Wall Street Zen raised Comp En De Mn Cemig ADS to a “hold” rating in a report on Saturday, October 17th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais SA, commonly known as Cemig, is a Brazilian electric utility headquartered in Minas Gerais. The company operates across the power sector, with activities that include electricity generation, transmission, distribution and commercialization.

Cemig supplies electricity to customers throughout Minas Gerais and manages a portfolio of power-generation assets, including hydroelectric facilities. Through affiliated businesses, the company has also participated in natural gas distribution and other energy-related activities.