Comp En De Mn Cemig ADS (NYSE:CIG) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Comp En De Mn Cemig ADS (NYSE:CIG) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.05 and traded as high as $2.25. Comp En De Mn Cemig ADS shares last traded at $2.2450, with a volume of 3,128,192 shares trading hands.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Comp En De Mn Cemig ADS has a consensus rating of “Reduce”.

Comp En De Mn Cemig ADS Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $2.09 and its 200 day moving average is $2.05.

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 (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%. As a group, equities research analysts expect that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current year.

Comp En De Mn Cemig ADS Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, January 7th. Shareholders 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 is 85.00%.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

A number of institutional investors have recently made changes to their positions in the stock. PFG Advisors boosted its stake in shares of Comp En De Mn Cemig ADS by 34.2% during the third quarter. PFG Advisors now owns 18,392 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 4,685 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Comp En De Mn Cemig ADS by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 594,303 shares of the utilities provider’s stock worth $1,190,000 after purchasing an additional 4,800 shares during the last quarter. Inspire Advisors LLC boosted its stake in shares of Comp En De Mn Cemig ADS by 55.8% during the 4th quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 5,631 shares during the last quarter. Abundance Wealth Counselors grew its holdings in shares of Comp En De Mn Cemig ADS by 10.0% during the fourth quarter. Abundance Wealth Counselors now owns 68,157 shares of the utilities provider’s stock worth $136,000 after buying an additional 6,173 shares in the last quarter. Finally, Compound Planning Inc. raised its position in shares of Comp En De Mn Cemig ADS by 19.1% in the third quarter. Compound Planning Inc. now owns 39,333 shares of the utilities provider’s stock valued at $83,000 after buying an additional 6,300 shares during 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.