Companhia Energetica de Minas Gers CEMIG (CIG) Sees Unusually-High Trading Volume

Shares of Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) saw unusually-high trading volume on Thursday . Approximately 11,669,208 shares changed hands during mid-day trading, an increase of 161% from the previous session’s volume of 4,464,884 shares.The stock last traded at $1.97 and had previously closed at $1.90.

Separately, J P Morgan Chase & Co raised shares of Companhia Energetica de Minas Gers CEMIG from a “neutral” rating to an “overweight” rating in a report on Monday, November 27th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Companhia Energetica de Minas Gers CEMIG currently has a consensus rating of “Hold” and an average price target of $2.80.

The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2,830.00, a price-to-earnings ratio of 98.00 and a beta of 1.94.

The company also recently declared a … dividend, which was paid on Wednesday, December 13th. Stockholders of record on Monday, December 11th were issued a dividend of $0.0142 per share. The ex-dividend date was Friday, December 8th. Companhia Energetica de Minas Gers CEMIG’s dividend payout ratio (DPR) is presently 650.00%.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Companhia Energetica de Minas Gers CEMIG by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 8,208,045 shares of the utilities provider’s stock worth $19,699,000 after acquiring an additional 375,410 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Companhia Energetica de Minas Gers CEMIG by 1.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,638,222 shares of the utilities provider’s stock worth $15,932,000 after acquiring an additional 79,976 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Companhia Energetica de Minas Gers CEMIG by 809.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,633,526 shares of the utilities provider’s stock worth $11,491,000 after acquiring an additional 4,124,242 shares during the period. TSP Capital Management Group LLC lifted its holdings in shares of Companhia Energetica de Minas Gers CEMIG by 4.7% during the 2nd quarter. TSP Capital Management Group LLC now owns 2,095,822 shares of the utilities provider’s stock worth $5,030,000 after acquiring an additional 94,170 shares during the period. Finally, Newfoundland Capital Management lifted its holdings in shares of Companhia Energetica de Minas Gers CEMIG by 159.9% during the 2nd quarter. Newfoundland Capital Management now owns 1,559,000 shares of the utilities provider’s stock worth $3,773,000 after acquiring an additional 959,155 shares during the period. 2.53% of the stock is owned by institutional investors.

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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.

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