Comp En De Mn Cemig ADS (NYSE:CIG) Reaches New 52-Week High – Here’s Why

Comp En De Mn Cemig ADS (NYSE:CIG) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $2.30 and last traded at $2.2950, with a volume of 9295748 shares. The stock had previously closed at $2.16.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Comp En De Mn Cemig ADS in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Comp En De Mn Cemig ADS Trading Up 6.2%

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $2.07 and its 200-day moving average is $2.04. The company has a market cap of $6.57 billion, a P/E ratio of 11.48 and a beta of 0.90.

Comp En De Mn Cemig ADS (NYSE:CIG) last posted its quarterly earnings data on Tuesday, January 20th. The utilities provider reported $0.16 earnings per share for the quarter. Comp En De Mn Cemig ADS had a net margin of 9.45% and a return on equity of 14.96%. Research analysts anticipate that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Comp En De Mn Cemig ADS Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, January 7th. Investors of record on Monday, December 29th were paid a dividend of $0.0264 per share. The ex-dividend date of this dividend was Monday, December 29th. Comp En De Mn Cemig ADS’s dividend payout ratio (DPR) is currently 85.00%.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

Several hedge funds have recently bought and sold shares of CIG. American Century Companies Inc. lifted its holdings in shares of Comp En De Mn Cemig ADS by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock worth $7,387,000 after buying an additional 850,358 shares during the period. Quadrant Capital Group LLC boosted its position in Comp En De Mn Cemig ADS by 382.4% during the second quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock valued at $889,000 after purchasing an additional 359,232 shares in the last quarter. Atria Investments Inc purchased a new position in Comp En De Mn Cemig ADS in the second quarter valued at about $394,000. Envestnet Asset Management Inc. raised its holdings in Comp En De Mn Cemig ADS by 2,157.2% in the second quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock worth $4,571,000 after purchasing an additional 2,228,591 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Comp En De Mn Cemig ADS by 158.4% during the second quarter. Corient Private Wealth LLC now owns 590,870 shares of the utilities provider’s stock valued at $1,158,000 after buying an additional 362,171 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.