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Short Interest in CEMIG (NYSE:CIG) Decreases By 16.8%

CEMIG logo with Utilities background

CEMIG (NYSE:CIG - Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,240,000 shares, a decrease of 16.8% from the March 31st total of 1,490,000 shares. Based on an average trading volume of 3,280,000 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company's stock are sold short.

CEMIG Stock Performance

Shares of CIG traded down $0.06 on Monday, reaching $1.85. 3,456,485 shares of the company's stock traded hands, compared to its average volume of 2,330,348. The stock's 50 day simple moving average is $1.82 and its two-hundred day simple moving average is $1.86. The stock has a market cap of $5.28 billion, a PE ratio of 3.45 and a beta of 1.11. CEMIG has a 52-week low of $1.59 and a 52-week high of $2.19. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35.

CEMIG Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a dividend of $0.033 per share. The ex-dividend date was Monday, March 31st. CEMIG's dividend payout ratio is presently 18.52%.

Analyst Upgrades and Downgrades

CIG has been the subject of a number of recent research reports. HSBC lowered CEMIG from a "buy" rating to a "hold" rating in a report on Friday, January 10th. Hsbc Global Res upgraded CEMIG to a "hold" rating in a research note on Friday, January 10th. Finally, Bank of America lowered shares of CEMIG from a "neutral" rating to an "underperform" rating in a research note on Tuesday, April 1st.

Read Our Latest Report on CIG

CEMIG Company Profile

(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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