Comp En De Mn Cemig ADS (NYSE:CIG) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Comp En De Mn Cemig ADS (NYSE:CIG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.05 and traded as high as $2.25. Comp En De Mn Cemig ADS shares last traded at $2.2450, with a volume of 3,128,192 shares changing hands.

Analyst Upgrades and Downgrades

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

Comp En De Mn Cemig ADS Stock Up 2.4%

The business has a fifty day simple moving average of $2.09 and a 200 day simple moving average of $2.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.44.

Comp En De Mn Cemig ADS (NYSE:CIG) last issued its quarterly earnings results on Tuesday, January 20th. The utilities provider reported $0.16 earnings per share (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%. As a group, equities research analysts anticipate that Comp En De Mn Cemig ADS will post 0.44 EPS for the current fiscal year.

Comp En De Mn Cemig ADS Dividend Announcement

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

Institutional Trading of Comp En De Mn Cemig ADS

Several large investors have recently bought and sold shares of CIG. Envestnet Asset Management Inc. raised its holdings in Comp En De Mn Cemig ADS by 2,157.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock valued at $4,571,000 after acquiring an additional 2,228,591 shares during the last quarter. Atria Investments Inc purchased a new stake in shares of Comp En De Mn Cemig ADS in the second quarter valued at approximately $394,000. Metis Global Partners LLC increased its holdings in shares of Comp En De Mn Cemig ADS by 25.7% in the second quarter. Metis Global Partners LLC now owns 103,517 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 21,165 shares during the last quarter. Raiffeisen Bank International AG lifted its position in Comp En De Mn Cemig ADS by 8.5% during the second quarter. Raiffeisen Bank International AG now owns 98,713 shares of the utilities provider’s stock worth $184,000 after buying an additional 7,725 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Comp En De Mn Cemig ADS by 4.3% during the second quarter. JPMorgan Chase & Co. now owns 348,762 shares of the utilities provider’s stock worth $684,000 after buying an additional 14,430 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.