Renaissance Technologies LLC Has $19.11 Million Holdings in Comp En De Mn Cemig ADS $CIG

Key Points

• Renaissance Technologies increased its Cemig ADS (NYSE: CIG) stake by 8.2% in the first quarter, adding 608,101 shares to hold 7.99 million shares valued at approximately $19.1 million.
• Other institutional investors also initiated or expanded positions, while Weiss Ratings slightly downgraded the stock from “buy (b)” to “buy (b-).” Despite the change, CIG maintains a consensus “Buy” rating from one covering analyst.
• CIG shares were trading up 2.6% at $2.17, giving the Brazilian utility a market capitalization of about $6.22 billion; the stock has traded between $1.79 and $2.76 over the past year.

Renaissance Technologies LLC grew its holdings in shares of Comp En De Mn Cemig ADS (NYSE:CIG - Free Report) by 8.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,993,849 shares of the utilities provider's stock after buying an additional 608,101 shares during the period. Renaissance Technologies LLC owned approximately 0.28% of Comp En De Mn Cemig ADS worth $19,105,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Greenspring Advisors LLC acquired a new position in shares of Comp En De Mn Cemig ADS during the 4th quarter valued at $30,000. SmartHarvest Portfolios LLC bought a new position in Comp En De Mn Cemig ADS during the fourth quarter worth $30,000. Inspire Advisors LLC grew its holdings 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 $32,000. Finally, BSW Wealth Partners bought a new stake in Comp En De Mn Cemig ADS in the fourth quarter valued at $33,000.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Comp En De Mn Cemig ADS from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

Comp En De Mn Cemig ADS Trading Up 2.6%

NYSE CIG opened at $2.17 on Friday. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 11.45 and a beta of 0.78. Comp En De Mn Cemig ADS has a 52 week low of $1.79 and a 52 week high of $2.76. The business has a 50 day moving average price of $2.12 and a 200-day moving average price of $2.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

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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