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

Comp En De Mn Cemig ADS (NYSE:CIG)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $2.30 and last traded at $2.2750, with a volume of 694231 shares changing hands. The stock had previously closed at $2.19.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Comp En De Mn Cemig ADS in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Price Performance

The company has a 50-day moving average price of $2.04 and a 200-day moving average price of $1.95. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 10.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00.

Comp En De Mn Cemig ADS (NYSE:CIG) last posted its quarterly earnings data on Thursday, August 14th. The utilities provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Comp En De Mn Cemig ADS had a net margin of 15.68% and a return on equity of 16.30%. On average, equities research analysts expect that Comp En De Mn Cemig ADS will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Several large investors have recently made changes to their positions in CIG. GAMMA Investing LLC raised its position in Comp En De Mn Cemig ADS by 69.2% during the second quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 6,227 shares in the last quarter. Precision Wealth Strategies LLC acquired a new stake in Comp En De Mn Cemig ADS in the 2nd quarter valued at about $154,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Comp En De Mn Cemig ADS by 7.7% in the second 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 during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Comp En De Mn Cemig ADS by 188.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 170,383 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 111,394 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Comp En De Mn Cemig ADS by 2,157.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock valued at $4,571,000 after acquiring an additional 2,228,591 shares during the period.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.