CEMIG (NYSE:CIG) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

CEMIG (NYSE:CIG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.84 and traded as high as $1.86. CEMIG shares last traded at $1.85, with a volume of 4,995,542 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Bank of America downgraded shares of CEMIG from a "neutral" rating to an "underperform" rating in a research report on Tuesday, April 1st.

CEMIG Trading Up 0.8%

The firm's 50-day moving average price is $1.81 and its 200 day moving average price is $1.84. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 3.46 and a beta of 1.07. 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 business also recently disclosed a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a dividend of $0.033 per share. The ex-dividend date was Monday, March 31st. CEMIG's dividend payout ratio is currently 43.48%.

CEMIG Company Profile

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.