Comp En De Mn Cemig ADS (NYSE:CIG) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Comp En De Mn Cemig ADS (NYSE:CIG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.23 and traded as high as $2.27. Comp En De Mn Cemig ADS shares last traded at $2.2650, with a volume of 5,936,269 shares trading hands.

Analyst Ratings Changes

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

Comp En De Mn Cemig ADS Stock Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 17.42 and a beta of 0.82. The firm has a fifty day simple moving average of $2.44 and a two-hundred day simple moving average of $2.23.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Comp En De Mn Cemig ADS by 4.3% during the second quarter. JPMorgan Chase & Co. now owns 348,762 shares of the utilities provider’s stock worth $684,000 after purchasing an additional 14,430 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Comp En De Mn Cemig ADS by 3.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,251,276 shares of the utilities provider’s stock worth $4,413,000 after purchasing an additional 81,679 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Comp En De Mn Cemig ADS by 224.2% during the second quarter. EverSource Wealth Advisors LLC now owns 23,648 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 16,354 shares during the period. Marshall Wace LLP acquired a new stake in shares of Comp En De Mn Cemig ADS during the second quarter worth about $62,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Comp En De Mn Cemig ADS during the second quarter worth about $130,000.

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.