CEMIG (NYSE:CIG) Stock Price Up 3.8% – Should You Buy?

CEMIG (NYSE:CIG)’s stock price rose 3.8% during mid-day trading on Thursday . The company traded as high as $1.79 and last traded at $1.79. Approximately 143,654 shares changed hands during trading, a decline of 94% from the average daily volume of 2,293,860 shares. The stock had previously closed at $1.72.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CIG shares. HSBC downgraded CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th. Hsbc Global Res raised shares of CEMIG to a “hold” rating in a report on Friday, January 10th. Finally, Bank of America cut shares of CEMIG from a “neutral” rating to an “underperform” rating in a report on Tuesday.

CEMIG Stock Performance

The company has a market cap of $5.05 billion, a P/E ratio of 3.30 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $1.88 and a two-hundred day simple moving average of $1.91.

CEMIG Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a dividend of $0.033 per share. The ex-dividend date of this dividend was Monday, March 31st. CEMIG’s dividend payout ratio (DPR) is 25.93%.

CEMIG Company Profile

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.