CEMIG (NYSE:CIG) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

CEMIG (NYSE:CIG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.96 and traded as high as $1.97. CEMIG shares last traded at $1.97, with a volume of 832,951 shares.

Analyst Ratings Changes

Separately, Scotiabank started coverage on shares of CEMIG in a report on Thursday, October 31st. They issued a “sector perform” rating for the company.

CEMIG Stock Performance

The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 4.72 and a beta of 1.30. The firm has a fifty day simple moving average of $2.02 and a 200 day simple moving average of $1.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96.

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

CEMIG Increases Dividend

The business also recently announced a dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a dividend of $0.0908 per share. The ex-dividend date was Monday, August 26th. This is a boost from CEMIG’s previous dividend of $0.03. CEMIG’s payout ratio is currently 40.70%.

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.