CEMIG (NYSE:CIG – Get Rating) gapped up before the market opened on Tuesday . The stock had previously closed at $1.97, but opened at $2.05. CEMIG shares last traded at $2.08, with a volume of 37,355 shares traded.
Wall Street Analysts Forecast Growth
Separately, TheStreet upgraded shares of CEMIG from a "c+" rating to a "b" rating in a research report on Monday, December 12th.
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The company has a market cap of $4.58 billion, a price-to-earnings ratio of 9.52 and a beta of 0.67. The stock's fifty day simple moving average is $2.08 and its two-hundred day simple moving average is $2.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.24 and a current ratio of 1.25.
Hedge Funds Weigh In On CEMIG
A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in shares of CEMIG in the 3rd quarter valued at $4,290,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of 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 period. SPX Gestao de Recursos Ltda purchased a new position in shares of CEMIG in the 3rd quarter valued at $326,000. Finally, US Bancorp DE raised its stake in shares of CEMIG by 48.5% in the 2nd quarter. US Bancorp DE now owns 72,962 shares of the utilities provider's stock valued at $148,000 after acquiring an additional 23,845 shares during the period. Institutional investors and hedge funds own 3.09% of the company's stock.CEMIG Company Profile
(Get Rating)
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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