CEMIG (NYSE:CIG) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

CEMIG (NYSE:CIG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.84 and traded as high as $1.86. CEMIG shares last traded at $1.85, with a volume of 4,995,542 shares.

Analysts Set New Price Targets

Separately, Bank of America downgraded CEMIG from a “neutral” rating to an “underperform” rating in a research report on Tuesday, April 1st.

CEMIG Stock Performance

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $1.81 and a 200-day moving average price of $1.84. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 3.45 and a beta of 1.07.

CEMIG Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a dividend of $0.033 per share. The ex-dividend date was Monday, March 31st. CEMIG’s dividend payout ratio is presently 43.48%.

About CEMIG

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.