CEMIG (NYSE:CIG) Sets New 1-Year Low – Here’s Why

Shares of CEMIG (NYSE:CIG) hit a new 52-week low on Friday . The stock traded as low as $1.68 and last traded at $1.69, with a volume of 329785 shares. The stock had previously closed at $1.77.

Analyst Ratings Changes

A number of equities analysts have issued reports on CIG shares. Hsbc Global Res upgraded CEMIG to a “hold” rating in a report on Friday, January 10th. Bank of America cut shares of CEMIG from a “neutral” rating to an “underperform” rating in a research report on Tuesday, April 1st. Finally, HSBC lowered shares of CEMIG from a “buy” rating to a “hold” rating in a research note on Friday, January 10th.

CEMIG Trading Down 4.2 %

The stock has a 50-day moving average of $1.88 and a two-hundred day moving average of $1.90. The company has a market cap of $4.85 billion, a P/E ratio of 3.17 and a beta of 1.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04.

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 issued a dividend of $0.033 per share. The ex-dividend date was Monday, March 31st. CEMIG’s payout ratio is presently 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.