CEMIG (NYSE:CIG) Short Interest Update

CEMIG (NYSE:CIG) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,730,000 shares, a decrease of 13.9% from the February 28th total of 2,010,000 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 2,840,000 shares, the days-to-cover ratio is presently 0.6 days.

CEMIG Price Performance

Shares of CEMIG stock traded up $0.04 during trading on Thursday, hitting $1.76. The stock had a trading volume of 1,836,429 shares, compared to its average volume of 2,297,865. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 3.29 and a beta of 1.30. CEMIG has a 12 month low of $1.69 and a 12 month high of $2.19. The business’s 50-day moving average is $1.88 and its 200 day moving average is $1.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35.

CEMIG Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a dividend of $0.033 per share. The ex-dividend date was Monday, March 31st. CEMIG’s dividend payout ratio (DPR) is currently 25.93%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CIG shares. Hsbc Global Res upgraded CEMIG to a “hold” rating in a report on Friday, January 10th. HSBC downgraded CEMIG from a “buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Bank of America cut CEMIG from a “neutral” rating to an “underperform” rating in a research note on Tuesday.

CEMIG Company 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.