Comp En De Mn Cemig ADS (NYSE:CIG) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Other research analysts have also issued reports about the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Comp En De Mn Cemig ADS from a “sell” rating to a “neutral” rating and upped their target price for the stock from $2.10 to $2.80 in a research report on Friday, July 14th. J P Morgan Chase & Co lowered shares of Comp En De Mn Cemig ADS from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 26th. Finally, Morgan Stanley upgraded shares of Comp En De Mn Cemig ADS from an “underweight” rating to an “overweight” rating in a research report on Thursday, June 22nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $2.80.

Shares of Comp En De Mn Cemig ADS (CIG) opened at 2.78 on Monday. The company’s 50 day moving average price is $2.57 and its 200 day moving average price is $2.83. The firm has a market cap of $3.50 billion, a P/E ratio of 17.27 and a beta of 1.89. Comp En De Mn Cemig ADS has a 12-month low of $2.06 and a 12-month high of $3.84.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Capstone Asset Management Co. raised its position in shares of Comp En De Mn Cemig ADS by 0.8% in the first quarter. Capstone Asset Management Co. now owns 75,697 shares of the utilities provider’s stock valued at $249,000 after buying an additional 590 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Comp En De Mn Cemig ADS by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 106,245 shares of the utilities provider’s stock valued at $350,000 after buying an additional 10,336 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Comp En De Mn Cemig ADS by 4.2% in the first quarter. UBS Asset Management Americas Inc. now owns 292,895 shares of the utilities provider’s stock valued at $964,000 after buying an additional 11,900 shares during the period. Guinness Atkinson Asset Management Inc raised its position in shares of Comp En De Mn Cemig ADS by 19.3% in the second quarter. Guinness Atkinson Asset Management Inc now owns 114,304 shares of the utilities provider’s stock valued at $274,000 after buying an additional 18,500 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Comp En De Mn Cemig ADS by 41.1% in the second quarter. Legal & General Group Plc now owns 97,788 shares of the utilities provider’s stock valued at $234,000 after buying an additional 28,500 shares during the period. Institutional investors own 3.05% of the company’s stock.

Comp En De Mn Cemig ADS Company Profile

Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.

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