CEMIG (NYSE:CIG) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

CEMIG (NYSE:CIG)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.95 and traded as high as $2.04. CEMIG shares last traded at $2.03, with a volume of 1,303,255 shares.

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 stock’s 50-day simple moving average is $2.04 and its two-hundred day simple moving average is $1.95. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 5.08 and a beta of 1.29.

CEMIG (NYSE:CIG) 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 research analysts predict that CEMIG will post 0.36 earnings per share for the current year.

CEMIG Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were given a $0.0908 dividend. This is a boost from CEMIG’s previous dividend of $0.03. The ex-dividend date of this dividend was Monday, August 26th. CEMIG’s dividend payout ratio is 42.50%.

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.