Shares of CEMIG (NYSE:CIG – Get Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $2.13, but opened at $2.07. CEMIG shares last traded at $2.05, with a volume of 3,638 shares.
Wall Street Analyst Weigh In
Separately, TheStreet upgraded shares of CEMIG from a "c+" rating to a "b" rating in a report on Monday, December 12th.
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CEMIG Stock Up 4.5 %
The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 9.66 and a beta of 0.67. The business's 50-day moving average is $2.09 and its 200-day moving average is $2.16. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.51.
Hedge Funds Weigh In On CEMIG
A number of institutional investors and hedge funds have recently bought and sold shares of CIG. Mitsubishi UFJ Trust & Banking Corp raised its holdings in CEMIG by 12.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 45,891 shares of the utilities provider's stock valued at $93,000 after acquiring an additional 5,229 shares during the last quarter. US Bancorp DE grew its position in shares of 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 purchasing an additional 23,845 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of CEMIG in the third quarter valued at approximately $326,000. Finally, Marshall Wace LLP purchased a new position in CEMIG during the third quarter worth approximately $4,290,000. 3.02% of the stock is currently owned by institutional investors and hedge funds.
About CEMIG
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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.
Further Reading
- Get a free copy of the StockNews.com research report on CEMIG (CIG)
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