Comp En De Mn Cemig ADS's (CIG) "Buy (B-)" Rating Reiterated at Weiss Ratings

Key Points

• Comp En De Mn Cemig ADS has had its rating reaffirmed as "buy (B-)" by Weiss Ratings, reflecting sustained confidence in the company's financial performance.
• The stock price increased by 1.0% to $1.97 during recent trading, while the company's market capitalization stands at approximately $5.64 billion.
• In its latest earnings report, Comp En De Mn Cemig ADS reported $0.08 EPS, exceeding analyst expectations of $0.05.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Comp En De Mn Cemig ADS Stock Up 1.0%

CIG traded up $0.02 during trading on Wednesday, hitting $1.97. 3,639,709 shares of the company's stock traded hands, compared to its average volume of 2,326,980. The company's 50 day simple moving average is $2.00 and its two-hundred day simple moving average is $1.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Comp En De Mn Cemig ADS has a 12-month low of $1.59 and a 12-month high of $2.15. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 4.28 and a beta of 1.11.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $9.19 billion. Comp En De Mn Cemig ADS had a return on equity of 16.30% and a net margin of 15.68%. Analysts predict that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Comp En De Mn Cemig ADS by 69.2% during the second quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider's stock worth $30,000 after buying an additional 6,227 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Comp En De Mn Cemig ADS by 7.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,815 shares of the utilities provider's stock valued at $203,000 after acquiring an additional 7,447 shares during the period. Raiffeisen Bank International AG increased its position in shares of Comp En De Mn Cemig ADS by 8.5% in the 2nd quarter. Raiffeisen Bank International AG now owns 98,713 shares of the utilities provider's stock valued at $184,000 after acquiring an additional 7,725 shares during the period. Virtus Investment Advisers LLC increased its position in shares of Comp En De Mn Cemig ADS by 12.7% in the 2nd quarter. Virtus Investment Advisers LLC now owns 89,354 shares of the utilities provider's stock valued at $175,000 after acquiring an additional 10,042 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Comp En De Mn Cemig ADS by 4.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 348,762 shares of the utilities provider's stock valued at $684,000 after acquiring an additional 14,430 shares during the period.

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.

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