Mangrove Partners IM LLC Trims Position in Comp En De Mn Cemig ADS $CIG

Mangrove Partners IM LLC cut its holdings in shares of Comp En De Mn Cemig ADS (NYSE:CIG) by 42.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,625,000 shares of the utilities provider’s stock after selling 1,975,000 shares during the period. Comp En De Mn Cemig ADS accounts for 0.4% of Mangrove Partners IM LLC’s portfolio, making the stock its 23rd biggest position. Mangrove Partners IM LLC’s holdings in Comp En De Mn Cemig ADS were worth $5,250,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp increased its stake in shares of Comp En De Mn Cemig ADS by 4.2% during the fourth quarter. State Street Corp now owns 14,278,481 shares of the utilities provider’s stock valued at $28,557,000 after buying an additional 579,856 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Comp En De Mn Cemig ADS by 1.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,061,011 shares of the utilities provider’s stock valued at $8,122,000 after buying an additional 63,442 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Comp En De Mn Cemig ADS by 1.6% during the third quarter. Envestnet Asset Management Inc. now owns 2,368,854 shares of the utilities provider’s stock valued at $4,998,000 after buying an additional 36,952 shares during the period. United Capital Financial Advisors LLC increased its stake in shares of Comp En De Mn Cemig ADS by 1.2% during the third quarter. United Capital Financial Advisors LLC now owns 2,271,963 shares of the utilities provider’s stock valued at $4,794,000 after buying an additional 25,907 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Comp En De Mn Cemig ADS by 3.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,251,276 shares of the utilities provider’s stock valued at $4,413,000 after buying an additional 81,679 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Comp En De Mn Cemig ADS from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

Comp En De Mn Cemig ADS Price Performance

Shares of CIG stock opened at $2.10 on Wednesday. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 11.03 and a beta of 0.77. The business’s fifty day moving average is $2.36 and its 200 day moving average is $2.23. Comp En De Mn Cemig ADS has a twelve month low of $1.79 and a twelve month high of $2.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

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.