Comp En De Mn Cemig ADS $CIG Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC raised its position in shares of Comp En De Mn Cemig ADS (NYSE:CIG) by 26.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,012,194 shares of the utilities provider’s stock after purchasing an additional 424,100 shares during the period. Pzena Investment Management LLC’s holdings in Comp En De Mn Cemig ADS were worth $4,246,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Caprock Group LLC bought a new stake in shares of Comp En De Mn Cemig ADS during the third quarter valued at approximately $35,000. Invested Advisors bought a new position in Comp En De Mn Cemig ADS in the 3rd quarter worth approximately $40,000. MAI Capital Management acquired a new stake in Comp En De Mn Cemig ADS in the 2nd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC raised its stake in Comp En De Mn Cemig ADS by 224.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 23,648 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 16,354 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Comp En De Mn Cemig ADS during the 2nd quarter worth $62,000.

Analysts Set New Price Targets

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 investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Comp En De Mn Cemig ADS Trading Up 1.6%

NYSE CIG opened at $2.25 on Friday. Comp En De Mn Cemig ADS has a 12 month low of $1.59 and a 12 month high of $2.30. The company’s 50 day simple moving average is $2.09 and its 200 day simple moving average is $2.05. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.44.

Comp En De Mn Cemig ADS (NYSE:CIG) last issued its quarterly earnings results on Tuesday, January 20th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter. Comp En De Mn Cemig ADS had a return on equity of 14.96% and a net margin of 9.45%. On average, analysts anticipate that Comp En De Mn Cemig ADS will post 0.44 EPS for the current year.

Comp En De Mn Cemig ADS Dividend Announcement

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

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.