Comp En De Mn Cemig ADS (NYSE:CIG) has been given a consensus rating of “Hold” by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $2.80.

A number of analysts have weighed in on the company. BidaskClub upgraded Comp En De Mn Cemig ADS from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Goldman Sachs Group, Inc. (The) upgraded Comp En De Mn Cemig ADS from a “sell” rating to a “neutral” rating and increased their target price for the stock from $2.10 to $2.80 in a research note on Friday, July 14th. Morgan Stanley upgraded Comp En De Mn Cemig ADS from an “underweight” rating to an “overweight” rating in a research note on Thursday, June 22nd. Finally, JPMorgan Chase & Co. lowered Comp En De Mn Cemig ADS from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 26th.

Shares of Comp En De Mn Cemig ADS (CIG) opened at 2.52 on Friday. The company has a market cap of $3.17 billion, a PE ratio of 15.65 and a beta of 1.89. The company has a 50-day moving average of $2.63 and a 200 day moving average of $2.83. 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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Large investors have recently modified their holdings of the stock. Morgan Stanley increased its stake in shares of Comp En De Mn Cemig ADS by 205.3% in the first quarter. Morgan Stanley now owns 11,884,345 shares of the utilities provider’s stock worth $39,099,000 after buying an additional 7,991,738 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Comp En De Mn Cemig ADS by 105.2% in the first quarter. Bank of America Corp DE now owns 10,859,115 shares of the utilities provider’s stock worth $35,726,000 after buying an additional 5,568,037 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Comp En De Mn Cemig ADS by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 9,417,870 shares of the utilities provider’s stock worth $30,985,000 after buying an additional 52,809 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Comp En De Mn Cemig ADS by 4.8% in the second quarter. Vanguard Group Inc. now owns 8,208,045 shares of the utilities provider’s stock worth $19,699,000 after buying an additional 375,410 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Comp En De Mn Cemig ADS by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 6,638,222 shares of the utilities provider’s stock worth $15,932,000 after buying an additional 79,976 shares during the last quarter. 3.05% of the stock is currently owned by institutional investors.

About Comp En De Mn Cemig ADS

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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