CEMIG (NYSE:CIG) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of CEMIG (NYSE:CIG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.96 and traded as high as $1.96. CEMIG shares last traded at $1.91, with a volume of 968,178 shares traded.

CEMIG Stock Performance

The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 4.78 and a beta of 1.29. The company has a 50 day moving average price of $2.06 and a 200 day moving average price of $1.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96.

CEMIG (NYSE:CIG) last announced its quarterly earnings data on Tuesday, August 13th. The utilities provider reported $0.07 EPS for the quarter. CEMIG had a return on equity of 21.49% and a net margin of 15.70%. The firm had revenue of $1.81 billion during the quarter. Equities research analysts predict that CEMIG will post 0.36 earnings per share for the current fiscal year.

CEMIG Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a $0.0908 dividend. This is a positive change from CEMIG’s previous dividend of $0.03. The ex-dividend date of this dividend was Monday, August 26th. CEMIG’s dividend payout ratio (DPR) is 42.50%.

About CEMIG

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.