CEMIG (NYSE:CIG) Sees Significant Decrease in Short Interest

CEMIG (NYSE:CIG) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,730,000 shares, a decline of 13.9% from the February 28th total of 2,010,000 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 2,840,000 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Ratings Changes

CIG has been the subject of several research analyst reports. HSBC lowered shares of CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th. Hsbc Global Res upgraded CEMIG to a “hold” rating in a research note on Friday, January 10th. Finally, Bank of America cut CEMIG from a “neutral” rating to an “underperform” rating in a research note on Tuesday.

CEMIG Stock Up 0.3 %

NYSE CIG traded up $0.01 during trading hours on Wednesday, reaching $1.73. 961,572 shares of the company’s stock traded hands, compared to its average volume of 2,296,347. The firm has a market cap of $4.94 billion, a PE ratio of 3.22 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. CEMIG has a 52-week low of $1.69 and a 52-week high of $2.19. The firm has a 50-day simple moving average of $1.88 and a 200 day simple moving average of $1.91.

CEMIG Cuts Dividend

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

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.