Comp En De Mn Cemig ADS (NYSE:CIG) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Comp En De Mn Cemig ADS (NYSE:CIG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.88 and traded as high as $2.09. Comp En De Mn Cemig ADS shares last traded at $2.09, with a volume of 3,327,808 shares trading hands.

Comp En De Mn Cemig ADS Price Performance

The company’s 50 day moving average price is $1.93 and its 200-day moving average price is $1.88. The company has a market capitalization of $5.98 billion, a PE ratio of 4.54 and a beta of 1.13. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

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

Institutional Trading of Comp En De Mn Cemig ADS

Several institutional investors have recently made changes to their positions in CIG. GAMMA Investing LLC boosted its position in Comp En De Mn Cemig ADS by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 6,227 shares during the period. MAI Capital Management purchased a new stake in Comp En De Mn Cemig ADS during the 2nd quarter worth $41,000. EverSource Wealth Advisors LLC boosted its position in 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 worth $46,000 after purchasing an additional 16,354 shares during the period. Marshall Wace LLP purchased a new stake in Comp En De Mn Cemig ADS during the 2nd quarter worth $62,000. Finally, Modern Wealth Management LLC purchased a new stake in Comp En De Mn Cemig ADS during the 2nd quarter worth $92,000.

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.