CEMIG (NYSE:CIG) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

CEMIG (NYSE:CIG)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank began coverage on CEMIG in a research report on Thursday, October 31st. They set a “sector perform” rating on the stock.

CEMIG Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 4.67 and a beta of 1.30. The business’s 50 day moving average is $2.01 and its 200 day moving average is $1.96.

CEMIG (NYSE:CIG) last issued its earnings results on Tuesday, August 13th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $1.81 billion during the quarter. CEMIG had a return on equity of 21.49% and a net margin of 15.70%. Sell-side analysts anticipate that CEMIG will post 0.36 earnings per share for the current year.

CEMIG Increases Dividend

The company also recently announced a dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a $0.0908 dividend. The ex-dividend date was Monday, August 26th. This is a positive change from CEMIG’s previous dividend of $0.03. CEMIG’s dividend payout ratio is currently 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.