Shares of CEMIG (NYSE:CIG – Get Rating) saw an uptick in trading volume on Friday . 199,709 shares changed hands during trading, a decline of 97% from the previous session's volume of 7,114,845 shares.The stock last traded at $2.02 and had previously closed at $1.96.
Wall Street Analysts Forecast Growth
Separately, TheStreet raised CEMIG from a "c+" rating to a "b" rating in a report on Monday, December 12th.
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The stock has a market cap of $4.49 billion, a P/E ratio of 9.34 and a beta of 0.67. The company has a fifty day moving average of $2.08 and a 200 day moving average of $2.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.25 and a quick ratio of 1.24.
Institutional Investors Weigh In On CEMIG
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its position 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 worth $93,000 after buying an additional 5,229 shares during the last quarter. US Bancorp DE grew its position in CEMIG by 48.5% in the second quarter. US Bancorp DE now owns 72,962 shares of the utilities provider's stock worth $148,000 after buying an additional 23,845 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new position in CEMIG in the third quarter worth approximately $326,000. Finally, Marshall Wace LLP acquired a new position in CEMIG in the third quarter worth approximately $4,290,000. Institutional investors own 3.09% of the company's stock.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.
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