Zacks Research Begins Coverage on Comp En De Mn Cemig ADS (NYSE:CIG)

Investment analysts at Zacks Research assumed coverage on shares of Comp En De Mn Cemig ADS (NYSE:CIG) in a report issued on Monday, Zacks reports. The firm set a “hold” rating on the utilities provider’s stock.

CIG has been the subject of several other research reports. Weiss Ratings cut Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Wall Street Zen raised Comp En De Mn Cemig ADS to a “hold” rating in a research report on Saturday, October 17th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Price Performance

Shares of NYSE:CIG opened at $1.78 on Monday. The company’s fifty day moving average is $2.14 and its two-hundred day moving average is $2.21. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58. Comp En De Mn Cemig ADS has a 12-month low of $1.77 and a 12-month high of $2.76. The company has a market cap of $5.11 billion, a P/E ratio of 9.39 and a beta of 0.86.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

A number of hedge funds and other institutional investors have recently made changes to their positions in CIG. rebel Financial LLC raised its position in Comp En De Mn Cemig ADS by 53.0% during the third quarter. rebel Financial LLC now owns 20,675 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 7,162 shares in the last quarter. StoneX Group Inc. acquired a new stake in Comp En De Mn Cemig ADS in the third quarter valued at approximately $67,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Comp En De Mn Cemig ADS in the third quarter valued at approximately $63,000. Vise Technologies Inc. grew its position in Comp En De Mn Cemig ADS by 107.2% in the third quarter. Vise Technologies Inc. now owns 45,433 shares of the utilities provider’s stock worth $95,000 after acquiring an additional 23,511 shares in the last quarter. Finally, Abundance Wealth Counselors grew its position in Comp En De Mn Cemig ADS by 27.0% in the third quarter. Abundance Wealth Counselors now owns 561,437 shares of the utilities provider’s stock worth $1,179,000 after acquiring an additional 119,505 shares in the last quarter.

About Comp En De Mn Cemig ADS

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.