Comp En De Mn Cemig ADS (NYSE:CIG) Reaches New 1-Year High – Here’s What Happened

Comp En De Mn Cemig ADS (NYSE:CIG) reached a new 52-week high on Wednesday . The company traded as high as $2.43 and last traded at $2.4050, with a volume of 8901659 shares changing hands. The stock had previously closed at $2.33.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Comp En De Mn Cemig ADS has an average rating of “Hold”.

Comp En De Mn Cemig ADS Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.89 and a current ratio of 0.89. The company’s 50 day moving average price is $2.22 and its 200 day moving average price is $2.11. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 12.03 and a beta of 0.91.

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 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 predict that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Comp En De Mn Cemig ADS

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Comp En De Mn Cemig ADS by 4.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 348,762 shares of the utilities provider’s stock valued at $684,000 after acquiring an additional 14,430 shares in the last quarter. MAI Capital Management bought a new stake in shares of Comp En De Mn Cemig ADS during the second quarter valued at approximately $41,000. American Century Companies Inc. grew its stake in shares of Comp En De Mn Cemig ADS by 29.1% during 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 purchasing an additional 850,358 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Comp En De Mn Cemig ADS by 382.4% in the second 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 in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Comp En De Mn Cemig ADS by 19.5% in the second quarter. Hsbc Holdings PLC now owns 843,882 shares of the utilities provider’s stock valued at $1,654,000 after purchasing an additional 137,938 shares in 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.