TheStreet upgraded shares of CEMIG (NYSE:CIG – Get Rating) from a c+ rating to a b rating in a research report released on Monday morning, TheStreetRatingsTable reports.

CEMIG Stock Performance

Shares of CEMIG stock opened at $1.97 on Monday. CEMIG has a one year low of $1.65 and a one year high of $2.62. The company has a market cap of $4.34 billion, a PE ratio of 9.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.24 and a current ratio of 1.25. The business has a 50-day simple moving average of $2.09 and a 200-day simple moving average of $2.18.

Institutional Investors Weigh In On CEMIG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIG. Mitsubishi UFJ Trust & Banking Corp lifted its stake in CEMIG by 12.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 45,891 shares of the utilities provider's stock valued at $93,000 after buying an additional 5,229 shares during the last quarter. US Bancorp DE lifted its stake in CEMIG by 48.5% in the second quarter. US Bancorp DE now owns 72,962 shares of the utilities provider's stock valued at $148,000 after buying an additional 23,845 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in CEMIG in the third quarter valued at approximately $326,000. Finally, Marshall Wace LLP purchased a new stake in CEMIG in the third quarter valued at approximately $4,290,000. Hedge funds and other institutional investors own 3.09% of the company's stock.

About CEMIG

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.

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