GAMMA Investing LLC Increases Position in Comp En De Mn Cemig ADS $CIG

GAMMA Investing LLC raised its position in Comp En De Mn Cemig ADS (NYSE:CIG) by 69.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,227 shares of the utilities provider’s stock after purchasing an additional 6,227 shares during the quarter. GAMMA Investing LLC’s holdings in Comp En De Mn Cemig ADS were worth $30,000 as of its most recent SEC filing.

Comp En De Mn Cemig ADS Stock Performance

Shares of CIG stock opened at $2.05 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average price of $1.99 and a 200 day moving average price of $1.89. The company has a market cap of $5.85 billion, a P/E ratio of 4.45 and a beta of 1.11. Comp En De Mn Cemig ADS has a 12 month low of $1.59 and a 12 month high of $2.15.

Comp En De Mn Cemig ADS (NYSE:CIG) last issued its earnings results on Thursday, August 14th. The utilities provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate 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%. Sell-side analysts predict that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Comp En De Mn Cemig ADS in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Comp En De Mn Cemig ADS currently has a consensus rating of “Hold”.

About Comp En De Mn Cemig ADS

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.