CEMIG (NYSE:CIG) Shares Gap Up – Still a Buy?

CEMIG (NYSE:CIG) shares gapped up prior to trading on Monday . The stock had previously closed at $1.90, but opened at $1.97. CEMIG shares last traded at $1.96, with a volume of 145,212 shares changing hands.

Wall Street Analyst Weigh In

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

CEMIG Stock Performance

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average is $2.02 and its two-hundred day moving average is $1.96. The firm has a market cap of $5.64 billion, a P/E ratio of 4.55 and a beta of 1.30.

CEMIG (NYSE:CIG) last announced its earnings results on Tuesday, August 13th. The utilities provider reported $0.07 earnings per share for the quarter. CEMIG had a net margin of 15.70% and a return on equity of 21.49%. The business had revenue of $1.81 billion for the quarter. As a group, equities analysts predict that CEMIG will post 0.36 EPS for the current fiscal year.

CEMIG Increases Dividend

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