Comp En De Mn Cemig ADS (NYSE:CIG) Sets New 12-Month High - Here's What Happened

Key Points

• Shares of Comp En De Mn Cemig ADS (NYSE:CIG) reached a new 52-week high, trading as high as $2.75 and last at $2.7350 on a volume of 206,343 shares.
• Weiss Ratings upgraded the stock from "hold (c+)" to "buy (b)", and MarketBeat data shows a consensus analyst rating of Buy.
• The company has a market capitalization of $7.77 billion and a P/E of 13.58, reported quarterly EPS of $0.16 (with analysts forecasting ~0.44 EPS for the year) and current/quick ratios of 0.89.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $2.75 and last traded at $2.7350, with a volume of 206343 shares changing hands. The stock had previously closed at $2.70.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Comp En De Mn Cemig ADS from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Comp En De Mn Cemig ADS currently has a consensus rating of "Buy".

Comp En De Mn Cemig ADS Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $2.32 and a two-hundred day simple moving average of $2.15. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 13.58 and a beta of 0.87.

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

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

Several institutional investors have recently bought and sold shares of the stock. PFG Advisors raised its holdings in Comp En De Mn Cemig ADS by 34.2% during the third quarter. PFG Advisors now owns 18,392 shares of the utilities provider's stock valued at $39,000 after buying an additional 4,685 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Comp En De Mn Cemig ADS by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 594,303 shares of the utilities provider's stock valued at $1,190,000 after buying an additional 4,800 shares in the last quarter. Inspire Advisors LLC raised its holdings in Comp En De Mn Cemig ADS by 55.8% during the fourth quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider's stock valued at $31,000 after buying an additional 5,631 shares in the last quarter. Abundance Wealth Counselors raised its holdings in Comp En De Mn Cemig ADS by 10.0% during the fourth quarter. Abundance Wealth Counselors now owns 68,157 shares of the utilities provider's stock valued at $136,000 after buying an additional 6,173 shares in the last quarter. Finally, Compound Planning Inc. raised its holdings in Comp En De Mn Cemig ADS by 19.1% during the third quarter. Compound Planning Inc. now owns 39,333 shares of the utilities provider's stock valued at $83,000 after buying an additional 6,300 shares in 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.

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