CEMIG (NYSE:CIG) Shares Up 5.1% – Here’s Why

Shares of CEMIG (NYSE:CIG) traded up 5.1% during mid-day trading on Thursday . The stock traded as high as $2.07 and last traded at $2.06. 642,080 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 2,316,799 shares. The stock had previously closed at $1.96.

Wall Street Analyst Weigh In

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

CEMIG Stock Up 4.8 %

The company’s 50 day moving average price is $2.01 and its two-hundred day moving average price is $1.96. The firm has a market cap of $5.88 billion, a PE ratio of 4.67 and a beta of 1.30. 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 issued its quarterly earnings results on Tuesday, August 13th. The utilities provider reported $0.07 earnings per share for the quarter. The business had revenue of $1.81 billion for the quarter. CEMIG had a net margin of 15.70% and a return on equity of 21.49%. On average, equities research analysts expect that CEMIG will post 0.36 EPS for the current fiscal year.

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.