CEMIG (NYSE:CIG) Stock Passes Above 200 Day Moving Average – What’s Next?

CEMIG (NYSE:CIG)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.96 and traded as high as $1.96. CEMIG shares last traded at $1.91, with a volume of 968,178 shares changing hands.

CEMIG Stock Down 2.6 %

The company has a 50-day simple moving average of $2.06 and a 200 day simple moving average of $1.96. The company has a market cap of $5.47 billion, a P/E ratio of 4.78 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28.

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

CEMIG Increases Dividend

The business 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. This is a boost from CEMIG’s previous dividend of $0.03. The ex-dividend date was Monday, August 26th. CEMIG’s dividend payout ratio is 42.50%.

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.