Comp En De Mn Cemig ADS (NYSE:CIG) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Comp En De Mn Cemig ADS (NYSE:CIG) shares 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 traded.

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 investment 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.com, the company presently has a consensus rating of “Reduce”.

Comp En De Mn Cemig ADS Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.44. The company has a market cap of $6.20 billion, a P/E ratio of 10.83 and a beta of 0.90. The business’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.03.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced its quarterly earnings data 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 net margin of 9.45% and a return on equity of 14.96%. Sell-side 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 issued a dividend of $0.0264 per share. The ex-dividend date of this dividend was Monday, December 29th. Comp En De Mn Cemig ADS’s dividend payout ratio (DPR) is currently 85.00%.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

Hedge funds have recently made changes to their positions in the business. American Century Companies Inc. raised its stake in Comp En De Mn Cemig ADS by 29.1% during the 2nd 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 period. Quadrant Capital Group LLC boosted its stake in Comp En De Mn Cemig ADS by 382.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock worth $889,000 after purchasing an additional 359,232 shares during the period. Atria Investments Inc purchased a new stake in Comp En De Mn Cemig ADS during the 2nd quarter valued at approximately $394,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Comp En De Mn Cemig ADS by 7.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,815 shares of the utilities provider’s stock valued at $203,000 after buying an additional 7,447 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Comp En De Mn Cemig ADS by 2,157.2% during the second quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock valued at $4,571,000 after buying an additional 2,228,591 shares during the last quarter.

About Comp En De Mn Cemig ADS

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.