Capstone Asset Management Co. Lowers Stake in Companhia Energetica de Minas Gers CEMIG (CIG)

Capstone Asset Management Co. reduced its stake in Companhia Energetica de Minas Gers CEMIG (NYSE:CIG) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,549 shares of the utilities provider’s stock after selling 2,148 shares during the period. Capstone Asset Management Co.’s holdings in Companhia Energetica de Minas Gers CEMIG were worth $177,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in shares of Companhia Energetica de Minas Gers CEMIG during the first quarter valued at about $121,000. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 3,522.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 54,299 shares of the utilities provider’s stock valued at $179,000 after buying an additional 52,800 shares in the last quarter. KCG Holdings Inc. boosted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 141.6% in the first quarter. KCG Holdings Inc. now owns 77,995 shares of the utilities provider’s stock valued at $257,000 after buying an additional 45,716 shares in the last quarter. Guinness Atkinson Asset Management Inc boosted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 19.3% in the second quarter. Guinness Atkinson Asset Management Inc now owns 114,304 shares of the utilities provider’s stock valued at $274,000 after buying an additional 18,500 shares in the last quarter. Finally, Guinness Asset Management Ltd boosted its stake in shares of Companhia Energetica de Minas Gers CEMIG by 59.9% in the second quarter. Guinness Asset Management Ltd now owns 114,556 shares of the utilities provider’s stock valued at $275,000 after buying an additional 42,900 shares in the last quarter. Institutional investors own 3.20% of the company’s stock.

Companhia Energetica de Minas Gers CEMIG (NYSE CIG) traded up 4.7293% on Wednesday, reaching $2.7858. 2,663,250 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $2.66 and a 200 day moving average price of $2.81. Companhia Energetica de Minas Gers CEMIG has a 12-month low of $2.06 and a 12-month high of $3.84. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 19.4811 and a beta of 1.89.

CIG has been the topic of several research reports. BidaskClub upgraded shares of Companhia Energetica de Minas Gers CEMIG from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) upgraded shares of Companhia Energetica de Minas Gers CEMIG from a “sell” rating to a “neutral” rating and increased their price target for the stock from $2.10 to $2.80 in a research report on Friday, July 14th. J P Morgan Chase & Co downgraded shares of Companhia Energetica de Minas Gers CEMIG from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 26th. Finally, Morgan Stanley upgraded shares of Companhia Energetica de Minas Gers CEMIG from an “underweight” rating to an “overweight” rating in a research report on Thursday, June 22nd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $2.80.

About Companhia Energetica de Minas Gers CEMIG

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.