Comp En De Mn Cemig ADS (NYSE:CIG) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Price breakout: Comp En De Mn Cemig ADS (NYSE:CIG) passed above its 200-day moving average of $2.18 on Tuesday, trading as high as $2.74 and last at $2.6950 on volume of about 4.22 million shares.
• Analyst upgrade: Weiss Ratings upgraded CIG from "hold (c+)" to "buy (b)" on March 24, and MarketBeat shows a current consensus rating of "Buy."
• Fundamentals: the company has a market capitalization of $7.71 billion, a P/E of 13.48, reported $0.16 EPS for the last quarter with analysts forecasting about $0.21 EPS for the current fiscal year and a ROE near 14.96%.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.18 and traded as high as $2.74. Comp En De Mn Cemig ADS shares last traded at $2.6950, with a volume of 4,220,723 shares changing hands.

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 note on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

Comp En De Mn Cemig ADS Stock Performance

The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 13.48 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50 day moving average price of $2.38 and a two-hundred day moving average price of $2.18.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) last announced 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%. On average, analysts predict that Comp En De Mn Cemig ADS will post 0.21 EPS for the current fiscal year.

Institutional Trading of Comp En De Mn Cemig ADS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Greenspring Advisors LLC acquired a new stake in Comp En De Mn Cemig ADS in the fourth quarter worth about $30,000. SmartHarvest Portfolios LLC acquired a new stake in Comp En De Mn Cemig ADS in the fourth quarter worth about $30,000. Inspire Advisors LLC increased its position in Comp En De Mn Cemig ADS by 55.8% in 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 in the fourth quarter worth about $32,000. Finally, BSW Wealth Partners acquired a new stake in Comp En De Mn Cemig ADS in the fourth quarter worth about $33,000.

Comp En De Mn Cemig ADS Company Profile

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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