Comp En De Mn Cemig ADS (NYSE:CIG) Stock Bumped Up to Hold by Wall Street Zen

Wall Street Zen upgraded shares of Comp En De Mn Cemig ADS (NYSE:CIG) to a hold rating in a report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Comp En De Mn Cemig ADS Stock Performance

CIG stock opened at $2.31 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58. Comp En De Mn Cemig ADS has a twelve month low of $1.87 and a twelve month high of $2.76. The company has a market cap of $6.63 billion, a P/E ratio of 12.18 and a beta of 0.76. The business’s fifty day moving average is $2.12 and its 200-day moving average is $2.22.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in Comp En De Mn Cemig ADS by 8.2% during the 1st quarter. Renaissance Technologies LLC now owns 7,993,849 shares of the utilities provider’s stock worth $19,105,000 after acquiring an additional 608,101 shares during the period. Nykredit A S bought a new position in shares of Comp En De Mn Cemig ADS in the 2nd quarter worth about $844,000. Public Employees Retirement System of Ohio acquired a new position in shares of Comp En De Mn Cemig ADS in the 2nd quarter valued at about $797,000. Advisors Preferred LLC acquired a new position in shares of Comp En De Mn Cemig ADS in the 1st quarter valued at about $708,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Comp En De Mn Cemig ADS by 29.8% in the 4th quarter. Hsbc Holdings PLC now owns 1,173,835 shares of the utilities provider’s stock valued at $2,348,000 after purchasing an additional 269,191 shares during the period.

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais SA, commonly known as Cemig, is a Brazilian electric utility headquartered in Belo Horizonte, Minas Gerais. Founded in 1952, the company operates across the electricity value chain, with activities that include power generation, transmission, distribution and energy sales.

Cemig serves customers in Minas Gerais and participates in energy activities elsewhere in Brazil through its operating subsidiaries and investments. Its generation portfolio includes hydroelectric facilities and other renewable energy assets, while its distribution business delivers electricity to residential, commercial and industrial customers.