CEMIG (NYSE:CIG – Get Rating) shares traded up 3.7% during mid-day trading on Wednesday . The company traded as high as $2.27 and last traded at $2.26. 2,333,143 shares changed hands during trading, a decline of 54% from the average session volume of 5,022,765 shares. The stock had previously closed at $2.18.
Analysts Set New Price Targets
Separately, TheStreet upgraded shares of CEMIG from a "c+" rating to a "b" rating in a research note on Monday, December 12th.
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The company has a debt-to-equity ratio of 0.51, a current ratio of 1.25 and a quick ratio of 1.24. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 9.98 and a beta of 0.67. The business's 50-day moving average price is $2.08 and its two-hundred day moving average price is $2.17.
Institutional Trading of CEMIG
Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of CEMIG by 12.9% during 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 in the last quarter. US Bancorp DE boosted its holdings 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 purchasing an additional 23,845 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in CEMIG in the third quarter worth $326,000. Finally, Marshall Wace LLP acquired a new position in shares of CEMIG during the third quarter valued at $4,290,000. Institutional investors and hedge funds own 3.02% of the company's stock.CEMIG Company Profile
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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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