Zacks Research Initiates Coverage on Comp En De Mn Cemig ADS (NYSE:CIG)

Analysts at Zacks Research started coverage on shares of Comp En De Mn Cemig ADS (NYSE:CIG) in a research report issued to clients and investors on Monday, Zacks reports. The firm set a “hold” rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Comp En De Mn Cemig ADS to a “hold” rating in a research note on Saturday, October 17th. Weiss Ratings lowered shares of Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Comp En De Mn Cemig ADS currently has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Stock Performance

Shares of Comp En De Mn Cemig ADS stock opened at $1.78 on Monday. Comp En De Mn Cemig ADS has a 12 month low of $1.77 and a 12 month high of $2.76. The firm has a market capitalization of $5.11 billion, a P/E ratio of 9.39 and a beta of 0.86. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $2.14 and a two-hundred day simple moving average of $2.21.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. rebel Financial LLC boosted its holdings in Comp En De Mn Cemig ADS by 53.0% in the third quarter. rebel Financial LLC now owns 20,675 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 7,162 shares in the last quarter. StoneX Group Inc. purchased a new stake in shares of Comp En De Mn Cemig ADS in the third quarter worth $67,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Comp En De Mn Cemig ADS in the third quarter worth $63,000. Vise Technologies Inc. increased its holdings in shares of Comp En De Mn Cemig ADS by 107.2% during the third quarter. Vise Technologies Inc. now owns 45,433 shares of the utilities provider’s stock valued at $95,000 after acquiring an additional 23,511 shares in the last quarter. Finally, Abundance Wealth Counselors increased its holdings in shares of Comp En De Mn Cemig ADS by 27.0% during the third quarter. Abundance Wealth Counselors now owns 561,437 shares of the utilities provider’s stock valued at $1,179,000 after acquiring an additional 119,505 shares in the last quarter.

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais SA, commonly known as Cemig, is a Brazilian electric utility headquartered in Minas Gerais. The company operates across the power sector, with activities that include electricity generation, transmission, distribution and commercialization.

Cemig supplies electricity to customers throughout Minas Gerais and manages a portfolio of power-generation assets, including hydroelectric facilities. Through affiliated businesses, the company has also participated in natural gas distribution and other energy-related activities.