Advisors Preferred LLC Buys Shares of 296,210 Comp En De Mn Cemig ADS $CIG

Advisors Preferred LLC bought a new stake in Comp En De Mn Cemig ADS (NYSE:CIG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 296,210 shares of the utilities provider’s stock, valued at approximately $708,000.

Several other hedge funds have also recently modified their holdings of CIG. DGS Capital Management LLC lifted its stake in shares of Comp En De Mn Cemig ADS by 8.9% in the 1st quarter. DGS Capital Management LLC now owns 51,523 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 4,196 shares during the period. Sequoia Financial Advisors LLC lifted its position in Comp En De Mn Cemig ADS by 8.1% in the first quarter. Sequoia Financial Advisors LLC now owns 61,280 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 4,612 shares during the period. PFG Advisors lifted its position in Comp En De Mn Cemig ADS by 34.2% in the third quarter. PFG Advisors now owns 18,392 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 4,685 shares during the period. Corient Private Wealth LLC boosted its holdings in Comp En De Mn Cemig ADS by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 594,303 shares of the utilities provider’s stock valued at $1,190,000 after purchasing an additional 4,800 shares in the last quarter. Finally, Inspire Advisors LLC boosted its holdings in Comp En De Mn Cemig ADS by 55.8% in the 4th quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 5,631 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Comp En De Mn Cemig ADS from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Comp En De Mn Cemig ADS has an average rating of “Buy”.

Comp En De Mn Cemig ADS Stock Up 2.6%

CIG stock opened at $2.19 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $2.16 and its 200 day moving average price is $2.24. Comp En De Mn Cemig ADS has a 52 week low of $1.79 and a 52 week high of $2.76. The company has a market cap of $6.25 billion, a P/E ratio of 11.50 and a beta of 0.78.

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.