Comp En De Mn Cemig ADS (NYSE:CIG) Hits New 12-Month High – Still a Buy?

Comp En De Mn Cemig ADS (NYSE:CIG) shares hit a new 52-week high on Saturday . The stock traded as high as $2.31 and last traded at $2.3050, with a volume of 5199712 shares traded. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

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

Comp En De Mn Cemig ADS Stock Performance

The stock has a 50-day moving average price of $2.09 and a 200 day moving average price of $2.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.89 and a current ratio of 0.89.

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

Comp En De Mn Cemig ADS Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, January 7th. Stockholders of record on Monday, December 29th were paid 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 payout ratio is currently 85.00%.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Several large investors have recently bought and sold shares of CIG. Compound Planning Inc. boosted its stake in shares of Comp En De Mn Cemig ADS by 47.3% in the fourth quarter. Compound Planning Inc. now owns 57,919 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 18,586 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Comp En De Mn Cemig ADS by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 594,303 shares of the utilities provider’s stock valued at $1,190,000 after purchasing an additional 4,800 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Comp En De Mn Cemig ADS in the 4th quarter valued at $33,000. XTX Topco Ltd boosted its stake in Comp En De Mn Cemig ADS by 34.1% during the 4th quarter. XTX Topco Ltd now owns 259,105 shares of the utilities provider’s stock worth $518,000 after purchasing an additional 65,846 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Comp En De Mn Cemig ADS by 3.6% during the 4th quarter. Guggenheim Capital LLC now owns 629,791 shares of the utilities provider’s stock worth $1,260,000 after purchasing an additional 21,764 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.