Comp En De Mn Cemig ADS (NYSE:CIG) Hits New 1-Year High – Still a Buy?

Comp En De Mn Cemig ADS (NYSE:CIG)’s share price reached a new 52-week high on Wednesday . The company traded as high as $2.43 and last traded at $2.4050, with a volume of 8901659 shares trading hands. The stock had previously closed at $2.33.

Analyst Ratings Changes

Separately, Weiss Ratings raised Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Comp En De Mn Cemig ADS Price Performance

The stock’s 50-day moving average is $2.23 and its 200 day moving average is $2.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $6.74 billion, a PE ratio of 11.78 and a beta of 0.91.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced its quarterly earnings results on Tuesday, January 20th. The utilities provider reported $0.16 earnings per share for the quarter. Comp En De Mn Cemig ADS had a net margin of 9.45% and a return on equity of 14.96%. As a group, equities analysts expect that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current year.

Institutional Trading of Comp En De Mn Cemig ADS

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Comp En De Mn Cemig ADS by 4.3% during the second quarter. JPMorgan Chase & Co. now owns 348,762 shares of the utilities provider’s stock worth $684,000 after buying an additional 14,430 shares during the period. MAI Capital Management acquired a new stake in shares of Comp En De Mn Cemig ADS in the second quarter valued at approximately $41,000. American Century Companies Inc. grew its position in shares of Comp En De Mn Cemig ADS by 29.1% during the second quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock worth $7,387,000 after acquiring an additional 850,358 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Comp En De Mn Cemig ADS by 382.4% during the second quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider’s stock worth $889,000 after acquiring an additional 359,232 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Comp En De Mn Cemig ADS by 19.5% in the 2nd quarter. Hsbc Holdings PLC now owns 843,882 shares of the utilities provider’s stock valued at $1,654,000 after acquiring an additional 137,938 shares during the period.

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.