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

CEMIG (NYSE:CIG)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.96 and traded as high as $1.96. CEMIG shares last traded at $1.91, with a volume of 968,178 shares trading hands.

CEMIG Stock Down 2.6 %

The company has a 50-day moving average of $2.06 and a 200-day moving average of $1.96. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 4.78 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28.

CEMIG (NYSE:CIG) last announced its earnings results on Tuesday, August 13th. The utilities provider reported $0.07 earnings per share (EPS) 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%. On average, equities analysts predict that CEMIG will post 0.36 earnings per share for the current fiscal year.

CEMIG Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a $0.0908 dividend. The ex-dividend date of this dividend was Monday, August 26th. This is a positive change from CEMIG’s previous dividend of $0.03. CEMIG’s dividend payout ratio is currently 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.