Comp En De Mn Cemig ADS (NYSE:CIG) Shares Cross Above 200-Day Moving Average – What’s Next?

Comp En De Mn Cemig ADS (NYSE:CIG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.10 and traded as high as $2.33. Comp En De Mn Cemig ADS shares last traded at $2.3050, with a volume of 11,126,618 shares traded.

Wall Street Analysts Forecast Growth

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

Comp En De Mn Cemig ADS Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $2.20 and a 200 day moving average price of $2.10. The stock has a market cap of $6.48 billion, a P/E ratio of 11.33 and a beta of 0.91.

Comp En De Mn Cemig ADS (NYSE:CIG) last issued its earnings results on Tuesday, January 20th. The utilities provider reported $0.16 EPS for the quarter. Comp En De Mn Cemig ADS had a net margin of 9.45% and a return on equity of 14.96%. As a group, sell-side analysts expect that Comp En De Mn Cemig ADS will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

Hedge funds and other institutional investors have recently bought and sold shares of the business. Greenspring Advisors LLC acquired a new position in shares of Comp En De Mn Cemig ADS in the fourth quarter worth about $30,000. SmartHarvest Portfolios LLC purchased a new stake in Comp En De Mn Cemig ADS during the 4th quarter worth approximately $30,000. Inspire Advisors LLC increased its stake in Comp En De Mn Cemig ADS by 55.8% during the 4th quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock worth $31,000 after buying an additional 5,631 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Comp En De Mn Cemig ADS during the fourth quarter valued at approximately $32,000. Finally, BSW Wealth Partners acquired a new position in Comp En De Mn Cemig ADS in the 4th quarter valued at $33,000.

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.