Comp En De Mn Cemig ADS (NYSE:CIG) Sets New 52-Week High – Here’s What Happened

Comp En De Mn Cemig ADS (NYSE:CIG)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $2.30 and last traded at $2.2950, with a volume of 9295748 shares. The stock had previously closed at $2.16.

Wall Street Analyst Weigh In

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

Comp En De Mn Cemig ADS Price Performance

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 company’s 50 day simple moving average is $2.07 and its two-hundred day simple moving average is $2.04.

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

Comp En De Mn Cemig ADS Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, January 7th. Shareholders of record on Monday, December 29th were paid a $0.0264 dividend. The ex-dividend date was Monday, December 29th. Comp En De Mn Cemig ADS’s dividend payout ratio (DPR) is 85.00%.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co raised its position in shares of Comp En De Mn Cemig ADS by 3.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 697,707 shares of the utilities provider’s stock valued at $1,396,000 after purchasing an additional 23,299 shares during the last quarter. Inspire Advisors LLC increased its stake in Comp En De Mn Cemig ADS by 55.8% during the 4th quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 5,631 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Comp En De Mn Cemig ADS by 11.2% in the fourth quarter. Stifel Financial Corp now owns 775,601 shares of the utilities provider’s stock worth $1,551,000 after buying an additional 78,191 shares during the last quarter. PCM Encore LLC purchased a new position in shares of Comp En De Mn Cemig ADS in the fourth quarter worth $101,000. Finally, Schroder Investment Management Group lifted its stake in shares of Comp En De Mn Cemig ADS by 17.3% during the fourth quarter. Schroder Investment Management Group now owns 158,039 shares of the utilities provider’s stock worth $322,000 after buying an additional 23,314 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.