Comp En De Mn Cemig ADS (NYSE:CIG) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Comp En De Mn Cemig ADS (NYSE:CIG) 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 trading hands.

Analyst Ratings Changes

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

Comp En De Mn Cemig ADS Trading Down 0.5%

The stock’s 50-day simple moving average is $2.06 and its 200 day simple moving average is $2.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.89.

Comp En De Mn Cemig ADS (NYSE:CIG) last issued 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 return on equity of 14.96% and a net margin of 9.45%. On average, research analysts forecast that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current year.

Comp En De Mn Cemig ADS Announces Dividend

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 $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 Trading of Comp En De Mn Cemig ADS

A number of large investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC acquired a new stake in Comp En De Mn Cemig ADS during the 4th quarter worth approximately $32,000. BSW Wealth Partners purchased a new position in Comp En De Mn Cemig ADS during the fourth quarter worth about $33,000. Caprock Group LLC purchased a new stake in Comp En De Mn Cemig ADS in the 3rd quarter valued at approximately $35,000. Argos Wealth Advisors LLC acquired a new stake in shares of Comp En De Mn Cemig ADS in the 4th quarter valued at approximately $38,000. Finally, PFG Advisors boosted its stake in shares of Comp En De Mn Cemig ADS by 34.2% in the third quarter. PFG Advisors now owns 18,392 shares of the utilities provider’s stock valued at $39,000 after buying an additional 4,685 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.