CEMIG (NYSE:CIG) Shares Down 3.7%

CEMIG (NYSE:CIG) fell 3.7% during trading on Friday . The stock traded as low as $2.59 and last traded at $2.59. 78,823 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 9,222,514 shares. The stock had previously closed at $2.69.

Several research firms have recently commented on CIG. TheStreet raised shares of CEMIG from a “c+” rating to a “b-” rating in a research note on Monday. JPMorgan Chase & Co. raised shares of CEMIG from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 27th. Finally, Zacks Investment Research downgraded shares of CEMIG from a “buy” rating to a “hold” rating in a research note on Thursday, May 6th.

The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a 50-day moving average of $2.38.

An institutional investor recently raised its position in CEMIG stock. US Bancorp DE increased its holdings in CEMIG (NYSE:CIG) by 340.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,772 shares of the utilities provider’s stock after acquiring an additional 135,073 shares during the quarter. US Bancorp DE’s holdings in CEMIG were worth $503,000 at the end of the most recent quarter. Institutional investors own 0.89% of the company’s stock.

CEMIG Company Profile (NYSE:CIG)

Companhia Energ├ętica de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.

Featured Article: Why is cost of goods sold important?

Receive News & Ratings for CEMIG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEMIG and related companies with MarketBeat.com's FREE daily email newsletter.