CEMIG (NYSE:CIG) Cut to Underperform at Bank of America

Bank of America downgraded shares of CEMIG (NYSE:CIG) from a neutral rating to an underperform rating in a research note published on Tuesday, Marketbeat Ratings reports.

Other equities research analysts have also recently issued reports about the stock. Hsbc Global Res raised shares of CEMIG to a “hold” rating in a research report on Friday, January 10th. HSBC lowered CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th.

CEMIG Price Performance

NYSE CIG opened at $1.78 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 3.32 and a beta of 1.30. The business has a 50 day simple moving average of $1.88 and a 200 day simple moving average of $1.91. CEMIG has a 52-week low of $1.69 and a 52-week high of $2.19.

CEMIG Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a dividend of $0.033 per share. The ex-dividend date of this dividend was Monday, March 31st. CEMIG’s dividend payout ratio is currently 25.93%.

About CEMIG

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.