Companhia Energetica de Minas Gers CEMIG (CIG) Shares Gap Up to $2.46

Companhia Energetica de Minas Gers CEMIG (CIG) Shares Gap Up to $2.46

Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) gapped up before the market opened on Friday . The stock had previously closed at $2.53, but opened at $2.46. Companhia Energetica de Minas Gers CEMIG shares last traded at $2.48, with a volume of 4898231 shares trading hands.

A number of equities research analysts have recently commented on CIG shares. UBS Group upgraded Companhia Energetica de Minas Gers CEMIG from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded Companhia Energetica de Minas Gers CEMIG from a “neutral” rating to an “overweight” rating in a report on Monday, November 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $2.80.

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 0.64.

Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) last posted its quarterly earnings data on Tuesday, November 21st. The utilities provider reported ($0.02) earnings per share (EPS) for the quarter. Companhia Energetica de Minas Gers CEMIG had a return on equity of 0.70% and a net margin of 0.46%. The firm had revenue of $1.62 billion during the quarter. research analysts expect that Companhia Energetica de Minas Gers CEMIG will post 0.24 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP boosted its holdings in Companhia Energetica de Minas Gers CEMIG by 36.4% in the 4th quarter. First Trust Advisors LP now owns 106,040 shares of the utilities provider’s stock worth $218,000 after buying an additional 28,305 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Companhia Energetica de Minas Gers CEMIG by 14.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 296,174 shares of the utilities provider’s stock worth $610,000 after buying an additional 37,139 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in Companhia Energetica de Minas Gers CEMIG in the 3rd quarter worth about $101,000. Guggenheim Capital LLC boosted its holdings in Companhia Energetica de Minas Gers CEMIG by 18.5% in the 4th quarter. Guggenheim Capital LLC now owns 357,525 shares of the utilities provider’s stock worth $737,000 after buying an additional 55,888 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in Companhia Energetica de Minas Gers CEMIG by 392.5% in the 2nd quarter. Gotham Asset Management LLC now owns 78,149 shares of the utilities provider’s stock worth $188,000 after buying an additional 62,282 shares during the last quarter. Institutional investors own 2.54% of the company’s stock.

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Companhia Energetica de Minas Gers CEMIG Company Profile

Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.

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Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) gapped up before the market opened on Friday . The stock had previously closed at $2.53, but opened at $2.46. Companhia Energetica de Minas Gers CEMIG shares last traded at $2.48, with a volume of 4898231 shares traded.

Several brokerages have weighed in on CIG. UBS Group raised Companhia Energetica de Minas Gers CEMIG from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised Companhia Energetica de Minas Gers CEMIG from a “neutral” rating to an “overweight” rating in a research report on Monday, November 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Companhia Energetica de Minas Gers CEMIG presently has an average rating of “Buy” and an average target price of $2.80.

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 0.64.

Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) last posted its earnings results on Tuesday, November 21st. The utilities provider reported ($0.02) EPS for the quarter. Companhia Energetica de Minas Gers CEMIG had a net margin of 0.46% and a return on equity of 0.70%. The business had revenue of $1.62 billion for the quarter. equities research analysts predict that Companhia Energetica de Minas Gers CEMIG will post 0.24 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. First Trust Advisors LP grew its position in shares of Companhia Energetica de Minas Gers CEMIG by 36.4% during the 4th quarter. First Trust Advisors LP now owns 106,040 shares of the utilities provider’s stock valued at $218,000 after acquiring an additional 28,305 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of Companhia Energetica de Minas Gers CEMIG by 14.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 296,174 shares of the utilities provider’s stock valued at $610,000 after acquiring an additional 37,139 shares during the period. Eqis Capital Management Inc. acquired a new stake in shares of Companhia Energetica de Minas Gers CEMIG during the 3rd quarter valued at about $101,000. Guggenheim Capital LLC grew its position in shares of Companhia Energetica de Minas Gers CEMIG by 18.5% during the 4th quarter. Guggenheim Capital LLC now owns 357,525 shares of the utilities provider’s stock valued at $737,000 after acquiring an additional 55,888 shares during the period. Finally, Gotham Asset Management LLC grew its position in shares of Companhia Energetica de Minas Gers CEMIG by 392.5% during the 2nd quarter. Gotham Asset Management LLC now owns 78,149 shares of the utilities provider’s stock valued at $188,000 after acquiring an additional 62,282 shares during the period. Hedge funds and other institutional investors own 2.54% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Companhia Energetica de Minas Gers CEMIG (CIG) Shares Gap Up to $2.46” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/18/companhia-energetica-de-minas-gers-cemig-cig-shares-gap-up-to-2-46.html.

About Companhia Energetica de Minas Gers CEMIG

Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.

Receive News & Ratings for Companhia Energetica de Minas Gers CEMIG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Companhia Energetica de Minas Gers CEMIG and related companies with MarketBeat.com's FREE daily email newsletter.

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