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

CEMIG (NYSE:CIG) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.96 and traded as high as $1.97. CEMIG shares last traded at $1.97, with a volume of 832,951 shares.

Analyst Ratings Changes

Separately, Scotiabank initiated coverage on shares of CEMIG in a report on Thursday, October 31st. They issued a “sector perform” rating for the company.

CEMIG Trading Up 1.5 %

The business has a fifty day moving average price of $2.02 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 firm has a market capitalization of $5.64 billion, a PE ratio of 4.72 and a beta of 1.30.

CEMIG (NYSE:CIG) last announced its 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 during the quarter. CEMIG had a net margin of 15.70% and a return on equity of 21.49%. Analysts expect that CEMIG will post 0.36 EPS for the current fiscal year.

CEMIG Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given 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 (DPR) is presently 40.70%.

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.