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CEMIG (NYSE:CIG) Sets New 12-Month Low - Here's Why

CEMIG logo with Utilities background

CEMIG (NYSE:CIG - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $1.68 and last traded at $1.69, with a volume of 329785 shares trading hands. The stock had previously closed at $1.77.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America cut shares of CEMIG from a "neutral" rating to an "underperform" rating in a report on Tuesday, April 1st. HSBC downgraded CEMIG from a "buy" rating to a "hold" rating in a research report on Friday, January 10th. Finally, Hsbc Global Res raised CEMIG to a "hold" rating in a research report on Friday, January 10th.

Read Our Latest Analysis on CEMIG

CEMIG Price Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. The business's fifty day moving average is $1.87 and its 200-day moving average is $1.90. The firm has a market cap of $4.85 billion, a PE ratio of 3.17 and a beta of 1.01.

CEMIG Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a dividend of $0.033 per share. The ex-dividend date of this dividend was Monday, March 31st. CEMIG's dividend payout ratio (DPR) is presently 25.93%.

About CEMIG

(Get Free Report)

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.

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