Comp En De Mn Cemig ADS (NYSE:CIG) Reaches New 52-Week High – Time to Buy?

Comp En De Mn Cemig ADS (NYSE:CIG) shares reached a new 52-week high on Saturday . The company traded as high as $2.31 and last traded at $2.3050, with a volume of 5199712 shares traded. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Comp En De Mn Cemig ADS in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Comp En De Mn Cemig ADS has a consensus rating of “Reduce”.

Comp En De Mn Cemig ADS Trading Up 2.4%

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s fifty day moving average is $2.09 and its two-hundred day moving average is $2.06. The firm has a market capitalization of $6.60 billion, a PE ratio of 11.53 and a beta of 0.90.

Comp En De Mn Cemig ADS (NYSE:CIG) last posted its earnings results on Tuesday, January 20th. The utilities provider reported $0.16 EPS for the quarter. Comp En De Mn Cemig ADS had a net margin of 9.45% and a return on equity of 14.96%. On average, equities analysts predict that Comp En De Mn Cemig ADS will post 0.44 EPS for the current fiscal year.

Comp En De Mn Cemig ADS Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, January 7th. Investors of record on Monday, December 29th were issued a dividend of $0.0264 per share. The ex-dividend date was Monday, December 29th. Comp En De Mn Cemig ADS’s dividend payout ratio (DPR) is 85.00%.

Institutional Trading of Comp En De Mn Cemig ADS

Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in Comp En De Mn Cemig ADS by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock valued at $7,387,000 after acquiring an additional 850,358 shares during the period. Quadrant Capital Group LLC grew its position in shares of Comp En De Mn Cemig ADS by 382.4% in the second quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock valued at $889,000 after purchasing an additional 359,232 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Comp En De Mn Cemig ADS during the 2nd quarter valued at $394,000. Envestnet Asset Management Inc. raised its stake in shares of Comp En De Mn Cemig ADS by 2,157.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock valued at $4,571,000 after purchasing an additional 2,228,591 shares during the period. Finally, Everstar Asset Management LLC lifted its holdings in Comp En De Mn Cemig ADS by 19.6% during the 2nd quarter. Everstar Asset Management LLC now owns 399,080 shares of the utilities provider’s stock worth $782,000 after purchasing an additional 65,272 shares in the last quarter.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais SA (Cemig ADS) is a leading Brazilian energy company primarily engaged in the generation, transmission, distribution and commercialization of electric power. Headquartered in Belo Horizonte, the company operates as a vertically integrated utility, serving residential, commercial and industrial customers across its concession areas. In addition to its core electricity business, Cemig maintains interests in natural gas distribution and distinct energy-related ventures, including renewable sources and infrastructure projects.

In its generation segment, Cemig manages a diversified portfolio that includes hydroelectric, photovoltaic and wind power plants.