Comp En De Mn Cemig ADS (NYSE:CIG) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Comp En De Mn Cemig ADS (NYSE:CIG)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.10 and traded as high as $2.33. Comp En De Mn Cemig ADS shares last traded at $2.3050, with a volume of 11,126,618 shares.

Analysts Set New Price Targets

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

Comp En De Mn Cemig ADS Trading Up 2.0%

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 company’s 50-day simple moving average is $2.19 and its 200-day simple moving average is $2.10.

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

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of Comp En De Mn Cemig ADS by 29.1% in 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 purchasing an additional 850,358 shares during the period. State Street Corp raised its holdings in Comp En De Mn Cemig ADS by 4.2% during the 4th quarter. State Street Corp now owns 14,278,481 shares of the utilities provider’s stock worth $28,557,000 after buying an additional 579,856 shares during the period. Pzena Investment Management LLC raised its holdings in Comp En De Mn Cemig ADS by 26.7% during the 3rd quarter. Pzena Investment Management LLC now owns 2,012,194 shares of the utilities provider’s stock worth $4,246,000 after buying an additional 424,100 shares during the period. Corient Private Wealth LLC lifted its stake in Comp En De Mn Cemig ADS by 158.4% during the second quarter. Corient Private Wealth LLC now owns 590,870 shares of the utilities provider’s stock valued at $1,158,000 after buying an additional 362,171 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in 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 valued at $889,000 after buying an additional 359,232 shares in the last quarter.

About Comp En De Mn Cemig ADS

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.