Comp En De Mn Cemig ADS (NYSE:CIG) Coverage Initiated by Analysts at Zacks Research

Zacks Research began coverage on shares of Comp En De Mn Cemig ADS (NYSE:CIG) in a research report report published on Monday morning,Zacks reports. The firm issued a hold rating on the utilities provider’s stock.

Several other equities research analysts have also recently commented on CIG. Wall Street Zen raised Comp En De Mn Cemig ADS to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings downgraded Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Stock Down 1.9%

Comp En De Mn Cemig ADS stock opened at $1.78 on Monday. Comp En De Mn Cemig ADS has a 12 month low of $1.77 and a 12 month high of $2.76. The stock has a fifty day simple moving average of $2.14 and a two-hundred day simple moving average of $2.21. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 9.39 and a beta of 0.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of Comp En De Mn Cemig ADS by 8.2% in the 1st quarter. Renaissance Technologies LLC now owns 7,993,849 shares of the utilities provider’s stock worth $19,105,000 after buying an additional 608,101 shares during the last quarter. Nykredit A S bought a new stake in shares of Comp En De Mn Cemig ADS in the second quarter worth $844,000. Public Employees Retirement System of Ohio bought a new stake in shares of Comp En De Mn Cemig ADS in the second quarter worth $797,000. Advisors Preferred LLC purchased a new stake in Comp En De Mn Cemig ADS during the first quarter valued at $708,000. Finally, Hsbc Holdings PLC increased its position in Comp En De Mn Cemig ADS by 29.8% during the fourth quarter. Hsbc Holdings PLC now owns 1,173,835 shares of the utilities provider’s stock valued at $2,348,000 after acquiring an additional 269,191 shares during the last quarter.

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.