Comp En De Mn Cemig ADS (NYSE:CIG) Stock Rating Upgraded by Wall Street Zen

Comp En De Mn Cemig ADS (NYSE:CIG) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Comp En De Mn Cemig ADS Price Performance

Comp En De Mn Cemig ADS stock opened at $2.31 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 0.93. Comp En De Mn Cemig ADS has a 52 week low of $1.87 and a 52 week high of $2.76. The stock has a market capitalization of $6.63 billion, a P/E ratio of 12.18 and a beta of 0.76. The stock has a fifty day moving average of $2.12 and a 200-day moving average of $2.22.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avail Investment Partners LLC lifted its holdings in shares of Comp En De Mn Cemig ADS by 80.3% during the third quarter. Avail Investment Partners LLC now owns 73,897 shares of the utilities provider’s stock worth $155,000 after purchasing an additional 32,907 shares during the period. IFC & Insurance Marketing Inc. acquired a new stake in Comp En De Mn Cemig ADS in the third quarter valued at $38,000. Avidian Wealth Enterprises LLC increased its holdings in Comp En De Mn Cemig ADS by 110.8% in the third quarter. Avidian Wealth Enterprises LLC now owns 147,461 shares of the utilities provider’s stock valued at $310,000 after purchasing an additional 77,495 shares during the period. Plan A Wealth LLC raised its position in Comp En De Mn Cemig ADS by 9.2% during the 3rd quarter. Plan A Wealth LLC now owns 132,265 shares of the utilities provider’s stock worth $278,000 after purchasing an additional 11,091 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in Comp En De Mn Cemig ADS by 187.0% during the 2nd quarter. Engineers Gate Manager LP now owns 99,810 shares of the utilities provider’s stock worth $210,000 after purchasing an additional 65,030 shares during the last quarter.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais SA, commonly known as Cemig, is a Brazilian electric utility headquartered in Belo Horizonte, Minas Gerais. Founded in 1952, the company operates across the electricity value chain, with activities that include power generation, transmission, distribution and energy sales.

Cemig serves customers in Minas Gerais and participates in energy activities elsewhere in Brazil through its operating subsidiaries and investments. Its generation portfolio includes hydroelectric facilities and other renewable energy assets, while its distribution business delivers electricity to residential, commercial and industrial customers.