CEMIG (NYSE:CIG) Stock Crosses Above 200-Day Moving Average – What’s Next?

by · The Markets Daily

CEMIG (NYSE:CIG – Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.96 and traded as high as $1.97. CEMIG shares last traded at $1.97, with a volume of 832,951 shares changing hands.

Analyst Ratings Changes

Separately, Scotiabank initiated coverage on shares of CEMIG in a research note on Thursday, October 31st. They set a “sector perform” rating on the stock.

Read Our Latest Report on CIG

CEMIG Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $5.58 billion, a PE ratio of 4.67 and a beta of 1.30. The stock has a 50-day moving average price of $2.01 and a 200 day moving average price of $1.96.

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

CEMIG Increases Dividend

The business also recently declared a dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a dividend of $0.0908 per share. The ex-dividend date of this dividend was Monday, August 26th. This is an increase from CEMIG’s previous dividend of $0.03. CEMIG’s dividend payout ratio is 40.70%.

About CEMIG

(Get Free Report)

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.

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