Comp En De Mn Cemig ADS (NYSE:CIG) Reaches New 12-Month High – Here’s Why

Comp En De Mn Cemig ADS (NYSE:CIG) hit a new 52-week high on Tuesday . The stock traded as high as $2.13 and last traded at $2.13, with a volume of 651778 shares traded. The stock had previously closed at $2.07.

Comp En De Mn Cemig ADS Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day simple moving average of $1.95 and a two-hundred day simple moving average of $1.88. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 4.64 and a beta of 1.12.

Comp En De Mn Cemig ADS (NYSE:CIG) last released its quarterly earnings results on Thursday, August 14th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Comp En De Mn Cemig ADS had a return on equity of 16.30% and a net margin of 15.68%.The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $9.19 billion. On average, equities research analysts predict that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Comp En De Mn Cemig ADS by 69.2% during the second quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider’s stock valued at $30,000 after buying an additional 6,227 shares in the last quarter. MAI Capital Management purchased a new stake in Comp En De Mn Cemig ADS in the 2nd quarter worth about $41,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 worth $46,000 after purchasing an additional 16,354 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Comp En De Mn Cemig ADS during the 2nd quarter worth about $62,000. Finally, Modern Wealth Management LLC acquired a new position in shares of Comp En De Mn Cemig ADS during the 2nd quarter valued at about $92,000.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.