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

Comp En De Mn Cemig ADS (NYSE:CIG) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $2.51 and last traded at $2.4750, with a volume of 5713086 shares changing hands. The stock had previously closed at $2.47.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Comp En De Mn Cemig ADS Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50 day moving average price is $2.29 and its 200 day moving average price is $2.14. The firm has a market capitalization of $7.40 billion, a P/E ratio of 12.93 and a beta of 0.87.

Comp En De Mn Cemig ADS (NYSE:CIG) last released its earnings results 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%. As a group, sell-side analysts anticipate that Comp En De Mn Cemig ADS will post 0.44 EPS for the current fiscal year.

Institutional Trading of Comp En De Mn Cemig ADS

A number of institutional investors have recently bought and sold shares of CIG. JPMorgan Chase & Co. grew its holdings in Comp En De Mn Cemig ADS by 4.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 348,762 shares of the utilities provider’s stock worth $684,000 after acquiring an additional 14,430 shares during the period. 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 period. EverSource Wealth Advisors LLC grew its holdings in Comp En De Mn Cemig ADS by 224.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 23,648 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 16,354 shares during the period. Guggenheim Capital LLC grew its holdings in Comp En De Mn Cemig ADS by 24.6% during the 2nd quarter. Guggenheim Capital LLC now owns 608,450 shares of the utilities provider’s stock worth $1,193,000 after acquiring an additional 120,147 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Comp En De Mn Cemig ADS during the 2nd quarter worth $62,000.

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.