Envestnet Asset Management Inc. Acquires 2,228,591 Shares of Comp En De Mn Cemig ADS $CIG

Envestnet Asset Management Inc. lifted its holdings in shares of Comp En De Mn Cemig ADS (NYSE:CIG) by 2,157.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,331,902 shares of the utilities provider’s stock after purchasing an additional 2,228,591 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Comp En De Mn Cemig ADS were worth $4,571,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Comp En De Mn Cemig ADS by 69.2% during the second quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider’s stock worth $30,000 after buying an additional 6,227 shares in the last quarter. Precision Wealth Strategies LLC acquired a new position in Comp En De Mn Cemig ADS during the 2nd quarter worth approximately $154,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Comp En De Mn Cemig ADS by 7.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,815 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 7,447 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Comp En De Mn Cemig ADS by 188.8% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 170,383 shares of the utilities provider’s stock valued at $334,000 after purchasing an additional 111,394 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Comp En De Mn Cemig ADS in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Stock Performance

NYSE:CIG opened at $2.22 on Friday. The company has a market capitalization of $6.34 billion, a P/E ratio of 10.07 and a beta of 1.12. The business has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $1.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00. Comp En De Mn Cemig ADS has a 1 year low of $1.59 and a 1 year high of $2.30.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced its quarterly earnings results on Thursday, August 14th. The utilities provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Comp En De Mn Cemig ADS had a net margin of 15.68% and a return on equity of 16.30%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $9.19 billion. On average, analysts expect that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current year.

Comp En De Mn Cemig ADS Profile

Companhia Energética 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.