Comp En De Mn Cemig ADS (NYSE:CIG) shares gapped up prior to trading on Friday . The stock had previously closed at $2.58, but opened at $2.61. Comp En De Mn Cemig ADS shares last traded at $2.55, with a volume of 1,416,520 shares changing hands.

A number of analysts have recently commented on CIG shares. BidaskClub upgraded shares of Comp En De Mn Cemig ADS from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Goldman Sachs Group, Inc. (The) upgraded shares of Comp En De Mn Cemig ADS from a “sell” rating to a “neutral” rating and boosted their target price for the company from $2.10 to $2.80 in a report on Friday, July 14th. Finally, Morgan Stanley upgraded shares of Comp En De Mn Cemig ADS from an “underweight” rating to an “overweight” rating in a report on Thursday, June 22nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $2.80.

The stock has a market capitalization of $3.22 billion, a P/E ratio of 18.03 and a beta of 2.01. The company has a 50 day moving average of $2.67 and a 200-day moving average of $2.67.

Hedge funds and other institutional investors have recently modified their holdings of the business. Eqis Capital Management Inc. acquired a new stake in Comp En De Mn Cemig ADS during the 3rd quarter worth about $101,000. Bank of New York Mellon Corp acquired a new position in shares of Comp En De Mn Cemig ADS in the 1st quarter valued at about $121,000. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Comp En De Mn Cemig ADS by 3,522.3% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 54,299 shares of the utilities provider’s stock valued at $179,000 after purchasing an additional 52,800 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Comp En De Mn Cemig ADS by 163.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 79,737 shares of the utilities provider’s stock valued at $184,000 after purchasing an additional 49,500 shares during the period. Finally, IPG Investment Advisors LLC acquired a new position in shares of Comp En De Mn Cemig ADS in the 2nd quarter valued at about $185,000. 2.66% of the stock is owned by institutional investors.

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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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