Shares of Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) hit a new 52-week low during trading on Thursday . The company traded as low as $1.93 and last traded at $1.97, with a volume of 4505200 shares trading hands. The stock had previously closed at $2.05.

Separately, J P Morgan Chase & Co raised Companhia Energetica de Minas Gers CEMIG from a “neutral” rating to an “overweight” rating in a research note on Monday, November 27th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $2.80.

The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.67.

The business also recently disclosed a … dividend, which was paid on Wednesday, December 13th. Investors of record on Monday, December 11th were paid a $0.0142 dividend. The ex-dividend date was Friday, December 8th.

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 4.8% in the second quarter. Vanguard Group Inc. now owns 8,208,045 shares of the utilities provider’s stock worth $19,699,000 after acquiring an additional 375,410 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 6,638,222 shares of the utilities provider’s stock worth $15,932,000 after acquiring an additional 79,976 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 809.8% in the third quarter. JPMorgan Chase & Co. now owns 4,633,526 shares of the utilities provider’s stock worth $11,491,000 after acquiring an additional 4,124,242 shares during the period. TSP Capital Management Group LLC lifted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 4.7% in the second quarter. TSP Capital Management Group LLC now owns 2,095,822 shares of the utilities provider’s stock worth $5,030,000 after acquiring an additional 94,170 shares during the period. Finally, Newfoundland Capital Management lifted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 159.9% in the second quarter. Newfoundland Capital Management now owns 1,559,000 shares of the utilities provider’s stock worth $3,773,000 after acquiring an additional 959,155 shares during the period. 2.54% of the stock is currently owned by institutional investors.

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About Companhia Energetica de Minas Gers CEMIG

Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.

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