Mangrove Partners IM LLC Trims Stock Holdings in Comp En De Mn Cemig ADS $CIG

Mangrove Partners IM LLC trimmed its stake in Comp En De Mn Cemig ADS (NYSE:CIG) by 42.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,625,000 shares of the utilities provider’s stock after selling 1,975,000 shares during the quarter. Comp En De Mn Cemig ADS accounts for 0.4% of Mangrove Partners IM LLC’s portfolio, making the stock its 23rd biggest holding. Mangrove Partners IM LLC’s holdings in Comp En De Mn Cemig ADS were worth $5,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Comp En De Mn Cemig ADS by 4.2% in the fourth quarter. State Street Corp now owns 14,278,481 shares of the utilities provider’s stock worth $28,557,000 after acquiring an additional 579,856 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Comp En De Mn Cemig ADS by 1.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,061,011 shares of the utilities provider’s stock worth $8,122,000 after acquiring an additional 63,442 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in 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 worth $4,998,000 after acquiring an additional 36,952 shares in the last quarter. United Capital Financial Advisors LLC boosted its holdings in Comp En De Mn Cemig ADS by 1.2% in the third quarter. United Capital Financial Advisors LLC now owns 2,271,963 shares of the utilities provider’s stock worth $4,794,000 after acquiring an additional 25,907 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Comp En De Mn Cemig ADS by 3.8% in the second 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 in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Comp En De Mn Cemig ADS from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Comp En De Mn Cemig ADS presently has a consensus rating of “Buy”.

Comp En De Mn Cemig ADS Trading Up 0.2%

Comp En De Mn Cemig ADS stock opened at $2.10 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $2.36 and its two-hundred day simple moving average is $2.23. Comp En De Mn Cemig ADS has a 12 month low of $1.79 and a 12 month high of $2.76. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 11.03 and a beta of 0.77.

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.