Comp En De Mn Cemig ADS (NYSE:CIG) Announces Earnings Results

Comp En De Mn Cemig ADS (NYSE:CIG) released its earnings results on Tuesday. The utilities provider reported $0.16 earnings per share for the quarter, FiscalAI reports. Comp En De Mn Cemig ADS had a net margin of 9.45% and a return on equity of 15.20%.

Comp En De Mn Cemig ADS Stock Up 2.7%

CIG stock opened at $2.09 on Thursday. Comp En De Mn Cemig ADS has a one year low of $1.59 and a one year high of $2.30. The firm has a market cap of $5.81 billion, a PE ratio of 10.43 and a beta of 0.92. The firm’s 50 day moving average price is $2.04 and its 200-day moving average price is $2.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00.

Comp En De Mn Cemig ADS Dividend Announcement

The company also recently declared a special dividend, which was paid on Wednesday, January 7th. Stockholders of record on Monday, December 29th were given a dividend of $0.0264 per share. The ex-dividend date of this dividend was Monday, December 29th. Comp En De Mn Cemig ADS’s payout ratio is presently 85.00%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Comp En De Mn Cemig ADS in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Comp En De Mn Cemig ADS has an average rating of “Reduce”.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIG. GAMMA Investing LLC lifted its stake in shares of Comp En De Mn Cemig ADS by 69.2% in the 2nd quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 6,227 shares during the last quarter. Caprock Group LLC purchased a new stake in Comp En De Mn Cemig ADS in the 3rd quarter valued at about $35,000. PFG Advisors raised its holdings in Comp En De Mn Cemig ADS by 34.2% in the 3rd quarter. PFG Advisors now owns 18,392 shares of the utilities provider’s stock valued at $39,000 after buying an additional 4,685 shares during the period. Invested Advisors acquired a new position in Comp En De Mn Cemig ADS in the third quarter valued at about $40,000. Finally, Brooklyn Investment Group acquired a new position in Comp En De Mn Cemig ADS in the third quarter valued at about $40,000.

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.