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Comp En De Mn Cemig ADS (NYSE:CIG) was upgraded by equities research analysts at Goldman Sachs Group, Inc. (The) from a “sell” rating to a “neutral” rating in a note issued to investors on Friday, July 14th, Marketbeat Ratings reports. The brokerage presently has a $2.80 target price on the utilities provider’s stock, up from their prior target price of $2.10.
Other equities research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Comp En De Mn Cemig ADS from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. J P Morgan Chase & Co downgraded shares of Comp En De Mn Cemig ADS from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 26th. UBS AG upgraded shares of Comp En De Mn Cemig ADS from a “sell” rating to a “neutral” rating in a research report on Monday, March 20th. Finally, Morgan Stanley upgraded shares of Comp En De Mn Cemig ADS from an “underweight” rating to an “overweight” rating in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $2.80.
Comp En De Mn Cemig ADS (CIG) traded up 0.36% during mid-day trading on Friday, reaching $2.80. The company’s stock had a trading volume of 2,091,001 shares. The stock’s 50 day moving average is $2.53 and its 200 day moving average is $2.83. The firm has a market cap of $3.52 billion, a PE ratio of 17.39 and a beta of 1.89. Comp En De Mn Cemig ADS has a one year low of $2.06 and a one year high of $3.84.
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Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in Comp En De Mn Cemig ADS by 293.4% in the second quarter. BNP Paribas Arbitrage SA now owns 417,936 shares of the utilities provider’s stock worth $1,003,000 after buying an additional 311,691 shares during the last quarter. Legal & General Group Plc increased its position in Comp En De Mn Cemig ADS by 41.1% in the second quarter. Legal & General Group Plc now owns 97,788 shares of the utilities provider’s stock worth $234,000 after buying an additional 28,500 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Comp En De Mn Cemig ADS by 163.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 79,737 shares of the utilities provider’s stock worth $184,000 after buying an additional 49,500 shares in the last quarter. IPG Investment Advisors LLC acquired a new position in Comp En De Mn Cemig ADS during the second quarter worth $185,000. Finally, Deltec Asset Management LLC increased its position in Comp En De Mn Cemig ADS by 77.1% in the second quarter. Deltec Asset Management LLC now owns 310,000 shares of the utilities provider’s stock worth $744,000 after buying an additional 135,000 shares in the last quarter. Institutional investors own 3.05% of the company’s stock.
Comp En De Mn Cemig ADS Company Profile
Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.
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