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Advisors Preferred LLC acquired a new stake in Comp En De Mn Cemig ADS (NYSE:CIG – Free Report) in the first quarter, HoldingsChannel.com reports. The firm acquired 296,210 shares of the utilities provider’s stock, valued at approximately $708,000.
Several other institutional investors have also recently added to or reduced their stakes in CIG. JPMorgan Chase & Co. increased its position in 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 last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Comp En De Mn Cemig ADS by 3.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,251,276 shares of the utilities provider’s stock valued at $4,413,000 after purchasing an additional 81,679 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 valued at $46,000 after buying an additional 16,354 shares during the period. Marshall Wace LLP purchased a new stake in shares of Comp En De Mn Cemig ADS during the 2nd quarter valued at $62,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Comp En De Mn Cemig ADS during the 2nd quarter worth $130,000.
Analyst Ratings Changes
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 research analyst has rated the stock with a Buy rating, According to MarketBeat, Comp En De Mn Cemig ADS presently has a consensus rating of “Buy”.
Comp En De Mn Cemig ADS Price Performance
Comp En De Mn Cemig ADS stock opened at $2.19 on Wednesday. Comp En De Mn Cemig ADS has a 52-week low of $1.79 and a 52-week high of $2.76. The firm has a fifty day moving average of $2.16 and a 200-day moving average of $2.24. The firm has a market capitalization of $6.25 billion, a P/E ratio of 11.50 and a beta of 0.78. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.
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.
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