Comp En De Mn Cemig ADS (NYSE:CIG) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Comp En De Mn Cemig ADS (NYSE:CIG)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.23 and traded as high as $2.27. Comp En De Mn Cemig ADS shares last traded at $2.2650, with a volume of 5,936,269 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Comp En De Mn Cemig ADS Trading Up 3.4%

The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 12.03 and a beta of 0.82. The business has a 50-day moving average of $2.44 and a two-hundred day moving average of $2.23. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

A number of institutional investors have recently added to or reduced their stakes in CIG. JPMorgan Chase & Co. boosted its holdings in Comp En De Mn Cemig ADS by 4.3% during the second quarter. JPMorgan Chase & Co. now owns 348,762 shares of the utilities provider’s stock valued at $684,000 after purchasing an additional 14,430 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Comp En De Mn Cemig ADS by 3.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,251,276 shares of the utilities provider’s stock valued at $4,413,000 after purchasing an additional 81,679 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Comp En De Mn Cemig ADS by 224.2% during the second quarter. EverSource Wealth Advisors LLC now owns 23,648 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 16,354 shares in the last quarter. Marshall Wace LLP acquired a new stake in Comp En De Mn Cemig ADS during the second quarter valued at approximately $62,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Comp En De Mn Cemig ADS during the second quarter valued at approximately $130,000.

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.