Comp En De Mn Cemig ADS (NYSE:CIG) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Comp En De Mn Cemig ADS (NYSE:CIG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Comp En De Mn Cemig ADS in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Comp En De Mn Cemig ADS currently has a consensus rating of “Reduce”.

Comp En De Mn Cemig ADS Trading Down 0.5%

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $2.06 and a 200-day simple moving average of $2.03.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced its quarterly earnings data on Tuesday, January 20th. The utilities provider reported $0.16 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%. Research analysts expect that Comp En De Mn Cemig ADS will post 0.44 EPS for the current fiscal year.

Comp En De Mn Cemig ADS Dividend Announcement

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

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Large investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. grew its holdings 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 worth $8,122,000 after purchasing an additional 63,442 shares during the last quarter. American Century Companies Inc. raised its holdings 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 buying an additional 850,358 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Comp En De Mn Cemig ADS by 1.6% in 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 last quarter. United Capital Financial Advisors LLC lifted its position in Comp En De Mn Cemig ADS by 1.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 2,271,963 shares of the utilities provider’s stock worth $4,794,000 after buying an additional 25,907 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Comp En De Mn Cemig ADS by 3.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,251,276 shares of the utilities provider’s stock worth $4,413,000 after acquiring an additional 81,679 shares during the last quarter.

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.