Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $2.99 and last traded at $2.97, with a volume of 2,901,411 shares changing hands. The stock had previously closed at $2.80.

Separately, Zacks Investment Research upgraded Companhia Energetica de Minas Gerais from a “sell” rating to a “hold” rating in a research report on Monday, July 25th.

The company has a market capitalization of $3.71 billion and a price-to-earnings ratio of 12.09. The stock’s 50 day moving average price is $2.31 and its 200-day moving average price is $1.88.

A hedge fund recently raised its stake in Companhia Energetica de Minas Gerais stock. Schroder Investment Management Group increased its position in shares of Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) by 103.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,383,104 shares of the company’s stock after buying an additional 5,791,800 shares during the period. Schroder Investment Management Group owned 0.90% of Companhia Energetica de Minas Gerais worth $17,074,000 as of its most recent filing with the SEC.

Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. The Company generates electricity at approximately 78 hydroelectric plants, three thermoelectric plants and 23 wind farms.

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