CEMIG (NYSE:CIG) Shares Up 3.8% – Still a Buy?

Shares of CEMIG (NYSE:CIG) traded up 3.8% during trading on Thursday . The stock traded as high as $1.79 and last traded at $1.79. 143,654 shares were traded during mid-day trading, a decline of 94% from the average session volume of 2,293,860 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

CIG has been the topic of a number of recent research reports. HSBC downgraded 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 report on Friday, January 10th. Finally, Bank of America downgraded CEMIG from a “neutral” rating to an “underperform” rating in a research note on Tuesday.

CEMIG Price Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day moving average price is $1.88 and its two-hundred day moving average price is $1.91. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 3.17 and a beta of 1.01.

CEMIG Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a dividend of $0.033 per share. The ex-dividend date of this dividend was Monday, March 31st. CEMIG’s dividend payout ratio 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.