The stock of Companhia Energetica de Minas Gerais (NYSE:CIG) last traded at $2.37, unchanged from the previous session.
Data from the available sources indicates that Companhia Energetica de Minas Gerais (NYSE:CIG) is covered by 7 analysts. 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 $2.37, this indicates a potential downside of -9.7 percent. CIG stock price is now -6.37% away from the 50-day moving average and 7.76% away from the 200-day moving average. The market capitalization of the company currently stands at $6.35B.
In total, 7 analysts have assigned it a hold rating, and 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 JENKINS WEALTH during the first quarter worth $1,184,000. ITAU UNIBANCO HOLDING S.A. invested $1,145,000 in shares of CIG during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Companhia Energetica de Minas Gerais valued at approximately $654,000. THRIVENT FINANCIAL FOR LUTHERANS acquired a new stake in CIG for approximately $508,000. IMPACT PARTNERSHIP WEALTH, LLC purchased a new stake in CIG valued at around $486,000 in the second quarter.
With an opening price of $2.3800 on Thursday morning, Companhia Energetica de Minas Gerais (NYSE: CIG) set off the trading day. 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 $2.5434 and a two-hundred day moving average price translates $2.2634 for the stock.
The latest earnings results from Companhia Energetica de Minas Gerais (NYSE: CIG) was released for Jun, 2023. The net profit margin was 14.40% and return on equity was 23.40% for CIG.
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 10.63% 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 304.20%.
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.
