CEMIG (NYSE:CIG) Shares Cross Above 200 Day Moving Average of $1.93

CEMIG (NYSE:CIG)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.93 and traded as high as $2.15. CEMIG shares last traded at $2.11, with a volume of 1,311,176 shares traded.

CEMIG Price Performance

The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 5.08 and a beta of 1.29. The business’s 50-day moving average price is $2.01 and its two-hundred day moving average price is $1.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 1.15.

CEMIG (NYSE:CIG) last announced 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%. On average, research analysts forecast that CEMIG will post 0.36 EPS for the current fiscal year.

CEMIG Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a dividend of $0.0908 per share. The ex-dividend date of this dividend was Monday, August 26th. This is a boost from CEMIG’s previous dividend of $0.03. CEMIG’s dividend payout ratio is presently 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.