CEMIG (NYSE:CIG) Shares Down 2.5% – Here’s What Happened

Shares of CEMIG (NYSE:CIG) dropped 2.5% on Friday . The company traded as low as $1.92 and last traded at $1.93. Approximately 134,032 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 2,381,031 shares. The stock had previously closed at $1.98.

CEMIG Stock Performance

The stock has a 50 day moving average price of $2.05 and a two-hundred day moving average price of $1.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 4.67 and a beta of 1.29.

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

CEMIG Increases Dividend

The business also recently declared a dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a $0.0908 dividend. The ex-dividend date 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

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.