Empirical Financial Services LLC d.b.a. Empirical Wealth Management Decreases Stock Holdings in Comp En De Mn Cemig ADS $CIG

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in shares of Comp En De Mn Cemig ADS (NYSE:CIG) by 77.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,585 shares of the utilities provider’s stock after selling 209,407 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Comp En De Mn Cemig ADS were worth $119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Generali Investments CEE investicni spolecnost a.s. raised its position in shares of Comp En De Mn Cemig ADS by 1.0% in the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 894,044 shares of the utilities provider’s stock valued at $1,788,000 after purchasing an additional 8,645 shares during the last quarter. Tuttle Capital Management LLC purchased a new position in shares of Comp En De Mn Cemig ADS in the 4th quarter valued at approximately $52,000. Investment Research Partners LLC purchased a new position in shares of Comp En De Mn Cemig ADS in the 3rd quarter valued at approximately $72,000. United Capital Financial Advisors LLC raised its position in shares of Comp En De Mn Cemig ADS by 1.2% in the 3rd quarter. United Capital Financial Advisors LLC now owns 2,271,963 shares of the utilities provider’s stock valued at $4,794,000 after purchasing an additional 25,907 shares during the last quarter. Finally, Mariner LLC raised its position in shares of Comp En De Mn Cemig ADS by 68.6% in the 3rd quarter. Mariner LLC now owns 162,015 shares of the utilities provider’s stock valued at $342,000 after purchasing an additional 65,902 shares during the last quarter.

Comp En De Mn Cemig ADS Stock Performance

Shares of Comp En De Mn Cemig ADS stock opened at $2.59 on Thursday. The firm has a market capitalization of $7.40 billion, a P/E ratio of 12.93 and a beta of 0.87. 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 company has a 50 day moving average price of $2.29 and a 200 day moving average price of $2.14. Comp En De Mn Cemig ADS has a 52 week low of $1.59 and a 52 week high of $2.62.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced 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 net margin of 9.45% and a return on equity of 14.96%. Sell-side analysts expect that Comp En De Mn Cemig ADS will post 0.44 EPS for the current year.

Analysts Set New Price Targets

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

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.