Comp En De Mn Cemig ADS (NYSE:CIG) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Comp En De Mn Cemig ADS (NYSE:CIG) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.02 and traded as high as $2.23. Comp En De Mn Cemig ADS shares last traded at $2.1850, with a volume of 4,793,907 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Comp En De Mn Cemig ADS in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Comp En De Mn Cemig ADS has an average rating of “Reduce”.

Comp En De Mn Cemig ADS Stock Down 1.1%

The company’s fifty day simple moving average is $2.05 and its 200 day simple moving average is $2.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $6.32 billion, a PE ratio of 10.93 and a beta of 0.92.

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

Comp En De Mn Cemig ADS Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, January 7th. Shareholders of record on Monday, December 29th were given a dividend of $0.0264 per share. The ex-dividend date of this dividend was Monday, December 29th. Comp En De Mn Cemig ADS’s dividend payout ratio (DPR) is currently 85.00%.

Institutional Trading of Comp En De Mn Cemig ADS

A number of hedge funds and other institutional investors have recently modified their holdings of CIG. American Century Companies Inc. raised its stake in Comp En De Mn Cemig ADS by 29.1% during the second quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock valued at $7,387,000 after buying an additional 850,358 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Comp En De Mn Cemig ADS by 382.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock worth $889,000 after purchasing an additional 359,232 shares during the last quarter. Atria Investments Inc bought a new position in Comp En De Mn Cemig ADS in the 2nd quarter worth about $394,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Comp En De Mn Cemig ADS by 7.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,815 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 7,447 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 valued at $30,000 after purchasing an additional 6,227 shares during the last quarter.

About Comp En De Mn Cemig ADS

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.