Comp En De Mn Cemig ADS (NYSE:CIG) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of Comp En De Mn Cemig ADS (NYSE:CIG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.93 and traded as high as $2.10. Comp En De Mn Cemig ADS shares last traded at $2.0950, with a volume of 1,917,207 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Comp En De Mn Cemig ADS has an average rating of “Hold”.

Comp En De Mn Cemig ADS Trading Up 1.7%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 9.52 and a beta of 1.11. The company’s 50 day simple moving average is $2.03 and its two-hundred day simple moving average is $1.93.

Comp En De Mn Cemig ADS (NYSE:CIG) last posted its quarterly earnings data on Thursday, August 14th. The utilities provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Comp En De Mn Cemig ADS had a return on equity of 16.30% and a net margin of 15.68%. As a group, research analysts anticipate that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Comp En De Mn Cemig ADS

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Capital Wealth Advisors acquired a new stake in Comp En De Mn Cemig ADS in the 3rd quarter worth approximately $74,000. Invested Advisors acquired a new stake in shares of Comp En De Mn Cemig ADS during the third quarter worth $40,000. PDS Planning Inc lifted its stake in shares of Comp En De Mn Cemig ADS by 32.4% during the third quarter. PDS Planning Inc now owns 41,721 shares of the utilities provider’s stock worth $88,000 after buying an additional 10,215 shares during the period. Blue Trust Inc. lifted its stake in shares of Comp En De Mn Cemig ADS by 23.5% during the third quarter. Blue Trust Inc. now owns 88,069 shares of the utilities provider’s stock worth $186,000 after buying an additional 16,758 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. lifted its stake in shares of Comp En De Mn Cemig ADS by 9.2% during 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 buying an additional 74,400 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.