In yesterday’s Wall Street session, Companhia Energetica de Minas Gerais (NYSE:CIG) shares traded at $1.87, down -3.61% from the previous session.
As of this writing, 9 analysts cover Companhia Energetica de Minas Gerais (NYSE:CIG). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $2.14 and a low of $2.14, we find $2.14. Given the previous closing price of $1.94, this indicates a potential upside of 10.31 percent. CIG stock price is now -12.97% away from the 50-day moving average and -13.23% away from the 200-day moving average. The market capitalization of the company currently stands at $4.87B.
There are 7 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $2.14 as their price target over the next twelve months.
, while ‘Citigroup’ rates the stock as ‘Sell’.
A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CIG stock. A new stake in Companhia Energetica de Minas Gerais shares was purchased by MARSHALL WACE, LLP during the first quarter worth $3,971,000. ELECTRON CAPITAL PARTNERS, LLC invested $474,000 in shares of CIG during the first quarter. In the first quarter, WELLINGTON MANAGEMENT GROUP LLP acquired a new stake in Companhia Energetica de Minas Gerais valued at approximately $352,000. PRELUDE CAPITAL MANAGEMENT, LLC acquired a new stake in CIG for approximately $348,000. SPX GESTAO DE RECURSOS LTDA purchased a new stake in CIG valued at around $301,000 in the second quarter. In total, there are 210 active investors with 21.40% ownership of the company’s stock.
Thursday morning saw Companhia Energetica de Minas Gerais (NYSE: CIG) opened at $1.8600. During the past 12 months, Companhia Energetica de Minas Gerais has had a low of $1.62 and a high of $2.57. As of last week, the company has a debt-to-equity ratio of 0.56, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for CIG is $2.1634 and a two-hundred day moving average price translates $2.4320 for the stock.
The latest earnings results from Companhia Energetica de Minas Gerais (NYSE: CIG) was released for Jun, 2022. According to the Utilities – Diversified Company, earnings per share came in at $0.22, beating analysts’ expectations of $0.01 by 0.21. This compares to $0.17 EPS in the same period last year. The net profit margin was 8.20% and return on equity was 14.30% for CIG. The company reported revenue of $1.67 billion for the quarter, compared to $1.39 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.2 percent. For the current quarter, analysts expect CIG to generate $203.59M in revenue.
Investors who held shares on 06/28/2022 were paid a $0.031222 dividend. On an annualized basis, this represents a $0.28 dividend and a 14.88% percent yield. There was an ex-dividend date of 06/27/2022 for this dividend. In terms of dividend payout ratio, CIG is presently at 319.80%.
Companhia Energetica de Minas Gerais(CIG) Company Profile
Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of energy in Brazil. As of December 31, 2021, the company operated 70 hydroelectric, wind, and solar plants with an installed capacity of 5,700 MW; 339,086 miles of distribution lines; and 4,449 miles of transmission lines. It is also involved in the acquisition, transportation, and distribution of gas and its sub products and derivatives; provision of cloud solution, IT infrastructure, IT management, and cybersecurity services; provision of technology systems and systems for operational management of public service concessions; sale and trading of energy; provision of telecommunications services; and distributed generation, account services, cogeneration, energy efficiency, and supply and storage management activities. The company was incorporated in 1952 and is headquartered in Belo Horizonte, Brazil.