Companhia Energetica de Minas Gers CEMIG (CIG) Lowered to “Neutral” at JPMorgan Chase

JPMorgan Chase lowered shares of Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) from an overweight rating to a neutral rating in a research report report published on Wednesday, Marketbeat reports.

Separately, UBS raised Companhia Energetica de Minas Gers CEMIG from a market perform rating to an outperform rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Companhia Energetica de Minas Gers CEMIG has an average rating of Hold and an average target price of $2.80.

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Companhia Energetica de Minas Gers CEMIG stock opened at $2.42 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 0.64. Companhia Energetica de Minas Gers CEMIG has a 12 month low of $1.89 and a 12 month high of $3.13.

A number of institutional investors have recently bought and sold shares of CIG. Virtu Financial LLC acquired a new position in Companhia Energetica de Minas Gers CEMIG in the 3rd quarter valued at approximately $184,000. First Trust Advisors LP raised its holdings in Companhia Energetica de Minas Gers CEMIG by 111.4% in the 3rd quarter. First Trust Advisors LP now owns 77,735 shares of the utilities provider’s stock valued at $193,000 after acquiring an additional 40,955 shares in the last quarter. Two Sigma Securities LLC raised its holdings in Companhia Energetica de Minas Gers CEMIG by 382.3% in the 4th quarter. Two Sigma Securities LLC now owns 117,449 shares of the utilities provider’s stock valued at $242,000 after acquiring an additional 93,095 shares in the last quarter. Gotham Asset Management LLC acquired a new position in Companhia Energetica de Minas Gers CEMIG in the 4th quarter valued at approximately $350,000. Finally, Pinebridge Investments L.P. acquired a new position in Companhia Energetica de Minas Gers CEMIG in the 3rd quarter valued at approximately $466,000. 2.18% of the stock is owned by hedge funds and other institutional investors.

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Companhia Energetica de Minas Gers CEMIG Company Profile

Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.

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