In yesterday’s Wall Street session, Companhia Energetica de Minas Gerais (NYSE:CIG) shares traded at $2.59, up 1.97% 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 $2.54, this indicates a potential downside of -15.75 percent. CIG stock price is now 5.03% away from the 50-day moving average and 20.64% away from the 200-day moving average. The market capitalization of the company currently stands at $6.47B.
There are 9 analysts who have given it a hold rating, whereas 0 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.
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 KIWI WEALTH INVESTMENTS LIMITED PARTNERSHIP during the first quarter worth $1,349,000. JENKINS WEALTH invested $1,294,000 in shares of CIG during the first quarter. In the first quarter, IMPACT PARTNERSHIP WEALTH, LLC acquired a new stake in Companhia Energetica de Minas Gerais valued at approximately $531,000. LAZARD ASSET MANAGEMENT LLC acquired a new stake in CIG for approximately $294,000. SEGALL BRYANT & HAMILL, LLC purchased a new stake in CIG valued at around $198,000 in the second quarter. In total, there are 228 active investors with 21.80% ownership of the company’s stock.
Friday morning saw Companhia Energetica de Minas Gerais (NYSE: CIG) opened at $2.5700. During the past 12 months, Companhia Energetica de Minas Gerais has had a low of $1.69 and a high of $2.68. The fifty day moving average price for CIG is $2.4982 and a two-hundred day moving average price translates $2.2250 for the stock.
The latest earnings results from Companhia Energetica de Minas Gerais (NYSE: CIG) was released for Mar, 2023. 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 $0.13 EPS in the same period last year.
Investors who held shares on 07/03/2023 were paid a $0.040695 dividend. On an annualized basis, this represents a $0.25 dividend and a 9.73% percent yield. There was an ex-dividend date of 06/30/2023 for this dividend. In terms of dividend payout ratio, CIG is presently at 51.17%.
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, 2022, the company operated 69 hydroelectric, wind, and solar plants with an installed capacity of 5,519 MW; 351,163 miles of distribution lines; and 4,580 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.
