J P Morgan Chase & Co upgraded shares of Comp En De Mn Cemig ADS (NYSE:CIG) from a neutral rating to an overweight rating in a research report report published on Monday, Marketbeat reports.

Separately, BidaskClub upgraded shares of Comp En De Mn Cemig ADS from a sell rating to a hold rating in a research note on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Comp En De Mn Cemig ADS has an average rating of Hold and an average price target of $2.80.

Comp En De Mn Cemig ADS (NYSE:CIG) opened at $2.16 on Monday. Comp En De Mn Cemig ADS has a one year low of $1.95 and a one year high of $3.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 0.64.

Several large investors have recently bought and sold shares of CIG. JPMorgan Chase & Co. raised its stake in shares of Comp En De Mn Cemig ADS by 809.8% in the third quarter. JPMorgan Chase & Co. now owns 4,633,526 shares of the utilities provider’s stock valued at $11,491,000 after acquiring an additional 4,124,242 shares during the last quarter. Newfoundland Capital Management raised its stake in shares of Comp En De Mn Cemig ADS by 159.9% in the second quarter. Newfoundland Capital Management now owns 1,559,000 shares of the utilities provider’s stock valued at $3,773,000 after acquiring an additional 959,155 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Comp En De Mn Cemig ADS by 6.0% in the first quarter. Vanguard Group Inc. now owns 7,832,635 shares of the utilities provider’s stock valued at $25,769,000 after acquiring an additional 441,215 shares during the last quarter. Quantitative Investment Management LLC bought a new position in shares of Comp En De Mn Cemig ADS in the second quarter valued at approximately $860,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Comp En De Mn Cemig ADS by 293.4% in the second quarter. BNP Paribas Arbitrage SA now owns 417,936 shares of the utilities provider’s stock valued at $1,003,000 after acquiring an additional 311,691 shares during the last quarter. Institutional investors own 2.54% of the company’s stock.

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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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