Hsbc Holdings PLC Buys 269,191 Shares of Comp En De Mn Cemig ADS $CIG

Hsbc Holdings PLC increased its stake in shares of Comp En De Mn Cemig ADS (NYSE:CIG) by 29.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,173,835 shares of the utilities provider’s stock after purchasing an additional 269,191 shares during the quarter. Hsbc Holdings PLC’s holdings in Comp En De Mn Cemig ADS were worth $2,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CIG. State Street Corp boosted its position in Comp En De Mn Cemig ADS by 4.2% in the 4th quarter. State Street Corp now owns 14,278,481 shares of the utilities provider’s stock valued at $28,557,000 after buying an additional 579,856 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of 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 worth $1,158,000 after acquiring an additional 362,171 shares during the last quarter. Millennium Management LLC raised its position in shares of Comp En De Mn Cemig ADS by 27.4% during the third quarter. Millennium Management LLC now owns 1,471,400 shares of the utilities provider’s stock worth $3,105,000 after acquiring an additional 316,782 shares during the last quarter. SPX Gestao de Recursos Ltda lifted its stake in shares of Comp En De Mn Cemig ADS by 1,385.6% during the third quarter. SPX Gestao de Recursos Ltda now owns 320,778 shares of the utilities provider’s stock valued at $677,000 after acquiring an additional 299,185 shares during the period. Finally, UBS Group AG lifted its stake in shares of Comp En De Mn Cemig ADS by 22.5% during the third quarter. UBS Group AG now owns 1,386,267 shares of the utilities provider’s stock valued at $2,925,000 after acquiring an additional 254,397 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Comp En De Mn Cemig ADS from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Comp En De Mn Cemig ADS Stock Performance

Shares of CIG stock opened at $2.12 on Tuesday. The stock has a market cap of $6.05 billion, a PE ratio of 11.13 and a beta of 0.77. The stock has a 50-day moving average of $2.26 and a 200-day moving average of $2.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Comp En De Mn Cemig ADS has a one year low of $1.79 and a one year high of $2.76.

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.