Comp En De Mn Cemig ADS (NYSE:CIG) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Comp En De Mn Cemig ADS stock price has surpassed its 200-day moving average at $1.86, reaching a high of $1.99 during trading, although it closed slightly down at $1.98.
• Institutional investors have significantly increased their holdings in Comp En De Mn Cemig ADS, with Envestnet Asset Management boosting its position by an astonishing 2,157.2%.
• The company has a market capitalization of $5.65 billion, a PE ratio of 4.25, and a low debt-to-equity ratio of 0.46, indicating financial stability.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.86 and traded as high as $1.99. Comp En De Mn Cemig ADS shares last traded at $1.98, with a volume of 2,846,829 shares.

Comp En De Mn Cemig ADS Stock Performance

The company has a market capitalization of $5.59 billion, a P/E ratio of 4.25 and a beta of 1.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.06 and a quick ratio of 1.06. The company has a fifty day moving average price of $1.90 and a two-hundred day moving average price of $1.87.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The utilities provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $9.19 billion. Comp En De Mn Cemig ADS had a return on equity of 16.35% and a net margin of 15.68%. Equities analysts forecast that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Comp En De Mn Cemig ADS by 2,157.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider's stock worth $4,571,000 after purchasing an additional 2,228,591 shares in the last quarter. American Century Companies Inc. lifted its stake in Comp En De Mn Cemig ADS by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider's stock valued at $7,387,000 after acquiring an additional 850,358 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Comp En De Mn Cemig ADS by 158.4% during the 2nd quarter. Corient Private Wealth LLC now owns 590,870 shares of the utilities provider's stock valued at $1,158,000 after acquiring an additional 362,171 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Comp En De Mn Cemig ADS by 382.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider's stock valued at $889,000 after acquiring an additional 359,232 shares in the last quarter. Finally, Atria Investments Inc bought a new position in Comp En De Mn Cemig ADS during the 2nd quarter valued at $394,000.

Comp En De Mn Cemig ADS 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.