Public Employees Retirement System of Ohio Makes New $797,000 Investment in Comp En De Mn Cemig ADS $CIG

Public Employees Retirement System of Ohio bought a new stake in Comp En De Mn Cemig ADS (NYSE:CIG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 379,734 shares of the utilities provider’s stock, valued at approximately $797,000.

Several other hedge funds have also made changes to their positions in CIG. Advisors Preferred LLC purchased a new stake in shares of Comp En De Mn Cemig ADS during the 1st quarter valued at approximately $708,000. Renaissance Technologies LLC lifted its holdings in Comp En De Mn Cemig ADS by 8.2% in the first quarter. Renaissance Technologies LLC now owns 7,993,849 shares of the utilities provider’s stock valued at $19,105,000 after acquiring an additional 608,101 shares during the last quarter. Hsbc Holdings PLC grew its position in Comp En De Mn Cemig ADS by 29.8% in the fourth quarter. Hsbc Holdings PLC now owns 1,173,835 shares of the utilities provider’s stock worth $2,348,000 after acquiring an additional 269,191 shares during the period. SG Americas Securities LLC purchased a new position in Comp En De Mn Cemig ADS in the first quarter worth approximately $505,000. Finally, TSP Capital Management Group LLC increased its stake in Comp En De Mn Cemig ADS by 0.8% during the first quarter. TSP Capital Management Group LLC now owns 9,123,551 shares of the utilities provider’s stock worth $21,805,000 after acquiring an additional 70,659 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Comp En De Mn Cemig ADS presently has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Trading Down 2.9%

Shares of CIG stock opened at $2.17 on Thursday. Comp En De Mn Cemig ADS has a fifty-two week low of $1.87 and a fifty-two week high of $2.76. The company has a 50 day moving average price of $2.09 and a 200 day moving average price of $2.23. The stock has a market capitalization of $6.22 billion, a P/E ratio of 11.45 and a beta of 0.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Comp En De Mn Cemig ADS 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.