Comp En De Mn Cemig ADS $CIG Stake Cut by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its holdings in Comp En De Mn Cemig ADS (NYSE:CIG) by 46.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,080,784 shares of the utilities provider’s stock after selling 931,410 shares during the period. Pzena Investment Management LLC’s holdings in Comp En De Mn Cemig ADS were worth $2,162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. PFG Advisors raised its stake in shares of Comp En De Mn Cemig ADS by 34.2% during the 3rd quarter. PFG Advisors now owns 18,392 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 4,685 shares in the last quarter. Abundance Wealth Counselors raised its stake in shares of Comp En De Mn Cemig ADS by 10.0% during the 4th quarter. Abundance Wealth Counselors now owns 68,157 shares of the utilities provider’s stock worth $136,000 after purchasing an additional 6,173 shares in the last quarter. Compound Planning Inc. raised its stake in shares of Comp En De Mn Cemig ADS by 19.1% during the 3rd quarter. Compound Planning Inc. now owns 39,333 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 6,300 shares in the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Comp En De Mn Cemig ADS by 12.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,324 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 6,335 shares in the last quarter. Finally, Invested Advisors raised its stake in shares of Comp En De Mn Cemig ADS by 33.6% during the 4th quarter. Invested Advisors now owns 25,517 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 6,422 shares in the last quarter.

Comp En De Mn Cemig ADS Stock Down 1.1%

CIG opened at $2.21 on Friday. Comp En De Mn Cemig ADS has a fifty-two week low of $1.77 and a fifty-two week high of $2.76. The business has a 50-day moving average of $2.44 and a 200-day moving average of $2.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $6.31 billion, a PE ratio of 11.61 and a beta of 0.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Comp En De Mn Cemig ADS from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Comp En De Mn Cemig ADS currently has a consensus rating of “Buy”.

Comp En De Mn Cemig ADS Company Profile

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.