Comp En De Mn Cemig ADS (NYSE:CIG) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Comp En De Mn Cemig ADS (NYSE:CIG)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.03 and traded as high as $2.20. Comp En De Mn Cemig ADS shares last traded at $2.1650, with a volume of 14,491,546 shares.

Wall Street Analysts Forecast Growth

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

Comp En De Mn Cemig ADS Stock Performance

The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 10.83 and a beta of 0.90. The company’s fifty day simple moving average is $2.06 and its 200 day simple moving average is $2.03. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Comp En De Mn Cemig ADS (NYSE:CIG) last posted its earnings results on Tuesday, January 20th. The utilities provider reported $0.16 earnings per share (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%. On average, equities research 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 Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, January 7th. Stockholders of record on Monday, December 29th were issued a dividend of $0.0264 per share. The ex-dividend date was Monday, December 29th. Comp En De Mn Cemig ADS’s payout ratio is currently 85.00%.

Institutional Trading of Comp En De Mn Cemig ADS

Several hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Comp En De Mn Cemig ADS by 29.1% in the second quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock valued at $7,387,000 after acquiring an additional 850,358 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Comp En De Mn Cemig ADS by 382.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock valued at $889,000 after purchasing an additional 359,232 shares during the period. Atria Investments Inc acquired a new position in shares of Comp En De Mn Cemig ADS during the 2nd quarter worth approximately $394,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Comp En De Mn Cemig ADS by 7.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,815 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 7,447 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Comp En De Mn Cemig ADS by 2,157.2% during the second quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock worth $4,571,000 after purchasing an additional 2,228,591 shares during the period.

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.