The price of Companhia Energetica de Minas Gerais – CEMIG (NYSE:CIG) shares last traded on Wall Street rose 0.42% to $2.39.
Based on available information, 6 analysts follow Companhia Energetica de Minas Gerais – CEMIG (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 $2.38, this indicates a potential downside of -10.08 percent. CIG stock price is now -4.73% away from the 50-day moving average and 6.95% away from the 200-day moving average. The market capitalization of the company currently stands at $6.37B.
Among analysts, 5 rate the stock a hold while 1 rate it a buy. 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 – CEMIG shares was purchased by JENKINS WEALTH during the first quarter worth $1,194,000. ITAU UNIBANCO HOLDING S.A. invested $1,155,000 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 – CEMIG valued at approximately $659,000. THRIVENT FINANCIAL FOR LUTHERANS acquired a new stake in CIG for approximately $512,000. IMPACT PARTNERSHIP WEALTH, LLC purchased a new stake in CIG valued at around $490,000 in the second quarter.
A candlestick chart of Companhia Energetica de Minas Gerais – CEMIG (NYSE: CIG) showed a price of $2.4000 on Friday morning. During the past 12 months, Companhia Energetica de Minas Gerais – CEMIG has had a low of $1.69 and a high of $2.68. The fifty day moving average price for CIG is $2.5070 and a two-hundred day moving average price translates $2.2887 for the stock.
The latest earnings results from Companhia Energetica de Minas Gerais – CEMIG (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 10.54% 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 245.20%.
Companhia Energetica de Minas Gerais – CEMIG(CIG) Company Profile
Companhia Energética de Minas Gerais – CEMIG, 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.
