Comp En De Mn Cemig ADS (NYSE:CIG) Sets New 12-Month High - Should You Buy?

Key Points

• Shares hit a new 52-week high, trading as high as $2.51 (last $2.475) on volume of 5,713,086; the stock sits above its 50‑day and 200‑day moving averages ($2.28 and $2.13) and the company has a market cap of $7.08 billion.
• Weiss Ratings upgraded Cemig ADS from "hold (c+)" to "buy (b)" on March 24, and MarketBeat shows a consensus analyst rating of "Buy."
• Cemig reported $0.16 EPS for the most recent quarter, has a P/E of 12.38, ROE of 14.96% and a net margin of 9.45%, with sell‑side analysts forecasting about $0.44 EPS for the current year; the company is a vertically integrated Brazilian utility with hydro, photovoltaic and wind assets.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $2.51 and last traded at $2.4750, with a volume of 5713086 shares. The stock had previously closed at $2.47.

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 research report on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Comp En De Mn Cemig ADS has a consensus rating of "Buy".

Comp En De Mn Cemig ADS Stock Up 0.2%

The firm has a 50 day moving average of $2.28 and a 200 day moving average of $2.13. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 12.38 and a beta of 0.87. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) last released 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%. As a group, sell-side analysts predict that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Several large investors have recently added to or reduced their stakes in CIG. Greenspring Advisors LLC acquired a new stake in Comp En De Mn Cemig ADS during the fourth quarter worth approximately $30,000. SmartHarvest Portfolios LLC acquired a new stake in Comp En De Mn Cemig ADS during the fourth quarter worth approximately $30,000. Inspire Advisors LLC grew its stake 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 worth $31,000 after purchasing an additional 5,631 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Comp En De Mn Cemig ADS during the fourth quarter worth approximately $32,000. Finally, BSW Wealth Partners acquired a new stake in Comp En De Mn Cemig ADS in the fourth quarter valued at approximately $33,000.

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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