Comp En De Mn Cemig ADS (NYSE:CIG) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Comp En De Mn Cemig ADS (NYSE:CIG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.10 and traded as high as $2.33. Comp En De Mn Cemig ADS shares last traded at $2.3050, with a volume of 11,126,618 shares changing hands.

Analysts Set New Price Targets

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

Comp En De Mn Cemig ADS Trading Up 2.0%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50 day moving average is $2.19 and its two-hundred day moving average is $2.10.

Comp En De Mn Cemig ADS (NYSE:CIG) last issued its earnings results on Tuesday, January 20th. The utilities provider reported $0.16 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%. Sell-side analysts predict that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its position in Comp En De Mn Cemig ADS by 29.1% in the second quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock worth $7,387,000 after purchasing an additional 850,358 shares during the period. State Street Corp raised its stake in shares of Comp En De Mn Cemig ADS by 4.2% in the 4th quarter. State Street Corp now owns 14,278,481 shares of the utilities provider’s stock worth $28,557,000 after buying an additional 579,856 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Comp En De Mn Cemig ADS by 26.7% in the 3rd quarter. Pzena Investment Management LLC now owns 2,012,194 shares of the utilities provider’s stock worth $4,246,000 after buying an additional 424,100 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Comp En De Mn Cemig ADS by 158.4% in the 2nd quarter. Corient Private Wealth LLC now owns 590,870 shares of the utilities provider’s stock worth $1,158,000 after buying an additional 362,171 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Comp En De Mn Cemig ADS by 382.4% in the second quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock valued at $889,000 after buying an additional 359,232 shares during the period.

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.