CEMIG (NYSE:CIG) Shares Gap Down – Here’s What Happened

Shares of CEMIG (NYSE:CIG) gapped down before the market opened on Tuesday . The stock had previously closed at $1.76, but opened at $1.71. CEMIG shares last traded at $1.75, with a volume of 1,804,118 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CIG shares. Bank of America downgraded shares of CEMIG from a “neutral” rating to an “underperform” rating in a report on Tuesday. Hsbc Global Res raised shares of CEMIG to a “hold” rating in a research report on Friday, January 10th. Finally, HSBC lowered CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th.

CEMIG Stock Down 1.4 %

The stock’s fifty day simple moving average is $1.88 and its 200-day simple moving average is $1.91. The stock has a market capitalization of $4.97 billion, a PE ratio of 3.24 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35.

CEMIG Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a $0.033 dividend. The ex-dividend date of this dividend was Monday, March 31st. CEMIG’s dividend payout ratio (DPR) is 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.