Comp En De Mn Cemig ADS (NYSE:CIG) Sets New 12-Month High – Here’s What Happened

Comp En De Mn Cemig ADS (NYSE:CIG) reached a new 52-week high on Tuesday . The stock traded as high as $2.75 and last traded at $2.7350, with a volume of 206343 shares trading hands. The stock had previously closed at $2.70.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Comp En De Mn Cemig ADS Stock Up 0.6%

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50 day moving average price of $2.32 and a 200 day moving average price of $2.15. The firm has a market capitalization of $7.77 billion, a P/E ratio of 13.58 and a beta of 0.87.

Comp En De Mn Cemig ADS (NYSE:CIG) last posted its quarterly earnings data on Tuesday, January 20th. The utilities provider reported $0.16 EPS for the quarter. Comp En De Mn Cemig ADS had a return on equity of 14.96% and a net margin of 9.45%. On average, analysts predict that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

A number of institutional investors have recently made changes to their positions in CIG. Greenspring Advisors LLC bought a new position in shares of Comp En De Mn Cemig ADS in the fourth quarter worth about $30,000. SmartHarvest Portfolios LLC bought a new position in shares of Comp En De Mn Cemig ADS in the fourth quarter worth about $30,000. Inspire Advisors LLC increased its stake in shares of Comp En De Mn Cemig ADS by 55.8% in the fourth quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 5,631 shares during the period. Eagle Bay Advisors LLC bought a new position in shares of Comp En De Mn Cemig ADS in the fourth quarter worth about $32,000. Finally, BSW Wealth Partners bought a new position in shares of Comp En De Mn Cemig ADS in the fourth quarter worth about $33,000.

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.