Comp En De Mn Cemig ADS (NYSE:CIG) Stock Passes Above 200-Day Moving Average – Should You Sell?

Comp En De Mn Cemig ADS (NYSE:CIG) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.91 and traded as high as $2.00. Comp En De Mn Cemig ADS shares last traded at $2.00, with a volume of 2,100,297 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Comp En De Mn Cemig ADS in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Trading Up 0.8%

The company has a fifty day simple moving average of $2.01 and a two-hundred day simple moving average of $1.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $5.71 billion, a P/E ratio of 4.34 and a beta of 1.11.

Comp En De Mn Cemig ADS (NYSE:CIG) last posted its earnings results on Thursday, August 14th. The utilities provider reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Comp En De Mn Cemig ADS had a return on equity of 16.30% and a net margin of 15.68%.The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $9.19 billion. On average, analysts forecast that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its stake in shares of Comp En De Mn Cemig ADS by 29.1% in the second quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider’s stock worth $7,387,000 after purchasing an additional 850,358 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Comp En De Mn Cemig ADS by 2,157.2% in the second quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock worth $4,571,000 after purchasing an additional 2,228,591 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Comp En De Mn Cemig ADS by 3.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,251,276 shares of the utilities provider’s stock worth $4,413,000 after purchasing an additional 81,679 shares during the period. Generali Investments CEE investicni spolecnost a.s. increased its stake in shares of Comp En De Mn Cemig ADS by 9.2% in the third quarter. Generali Investments CEE investicni spolecnost a.s. now owns 885,399 shares of the utilities provider’s stock worth $1,868,000 after purchasing an additional 74,400 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Comp En De Mn Cemig ADS by 19.5% in the second quarter. Hsbc Holdings PLC now owns 843,882 shares of the utilities provider’s stock worth $1,654,000 after purchasing an additional 137,938 shares during the period.

About Comp En De Mn Cemig ADS

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.