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

Hsbc Holdings PLC grew its position in shares of Comp En De Mn Cemig ADS (NYSE:CIG) by 29.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,173,835 shares of the utilities provider’s stock after buying 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 reporting period.

Other large investors have also recently made changes to their positions in the company. Greenspring Advisors LLC purchased a new stake in shares of Comp En De Mn Cemig ADS in the fourth quarter worth about $30,000. SmartHarvest Portfolios LLC purchased a new position in Comp En De Mn Cemig ADS during the 4th quarter valued at approximately $30,000. Inspire Advisors LLC grew its holdings in 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 valued at $31,000 after buying an additional 5,631 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Comp En De Mn Cemig ADS in the 4th quarter worth approximately $32,000. Finally, BSW Wealth Partners bought a new stake in Comp En De Mn Cemig ADS in the 4th quarter worth approximately $33,000.

Comp En De Mn Cemig ADS Price Performance

NYSE:CIG opened at $2.19 on Friday. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 11.55 and a beta of 0.78. Comp En De Mn Cemig ADS has a 1 year low of $1.79 and a 1 year high of $2.76. The business has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded 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, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

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.