CEMIG (NYSE:CIG) Sees Significant Increase in Short Interest

CEMIG (NYSE:CIG) saw a significant growth in short interest in July. As of July 15th, there was short interest totalling 3,270,000 shares, a growth of 13.5% from the June 30th total of 2,880,000 shares. Based on an average trading volume of 1,850,000 shares, the short-interest ratio is presently 1.8 days.

CEMIG Stock Down 0.8 %

NYSE CIG traded down $0.02 during trading on Wednesday, hitting $1.91. 943,254 shares of the company traded hands, compared to its average volume of 2,585,190. CEMIG has a 12 month low of $1.62 and a 12 month high of $2.12. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $1.89 and a 200 day simple moving average of $1.86. The company has a market capitalization of $5.45 billion, a P/E ratio of 4.78 and a beta of 1.29.

CEMIG (NYSE:CIG) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $2.01 billion for the quarter. CEMIG had a net margin of 14.81% and a return on equity of 22.54%. As a group, sell-side analysts predict that CEMIG will post 0.22 EPS for the current year.

CEMIG Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, July 1st were issued a dividend of $0.0275 per share. The ex-dividend date of this dividend was Monday, July 1st. This is a positive change from CEMIG’s previous dividend of $0.03. CEMIG’s dividend payout ratio (DPR) is presently 42.50%.

About CEMIG

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.