CEMIG (NYSE:CIG) Trading 3.8% Higher – Should You Buy?

CEMIG (NYSE:CIG) shares traded up 3.8% during trading on Thursday . The company traded as high as $1.79 and last traded at $1.79. 143,654 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 2,293,860 shares. The stock had previously closed at $1.72.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Bank of America cut CEMIG from a “neutral” rating to an “underperform” rating in a research report on Tuesday. Hsbc Global Res upgraded shares of CEMIG to a “hold” rating in a research report on Friday, January 10th. Finally, HSBC downgraded shares of CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th.

CEMIG Price Performance

The firm has a 50 day moving average of $1.88 and a 200-day moving average of $1.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. The company has a market cap of $5.05 billion, a P/E ratio of 3.30 and a beta of 1.30.

CEMIG Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.033 dividend. The ex-dividend date was Monday, March 31st. CEMIG’s dividend payout ratio (DPR) is presently 25.93%.

About CEMIG

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.