CEMIG (NYSE:CIG) Earns Sector Perform Rating from Analysts at Scotiabank

by · The Markets Daily

Scotiabank started coverage on shares of CEMIG (NYSE:CIG – Free Report) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued a sector perform rating on the utilities provider’s stock.

CEMIG Stock Performance

CIG opened at $1.90 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28. The company’s fifty day moving average price is $2.02 and its two-hundred day moving average price is $1.96. CEMIG has a 1-year low of $1.62 and a 1-year high of $2.19. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 4.52 and a beta of 1.30.

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

CEMIG Increases Dividend

The company also recently announced a dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were paid a $0.0908 dividend. This is a positive change from CEMIG’s previous dividend of $0.03. The ex-dividend date of this dividend was Monday, August 26th. CEMIG’s dividend payout ratio is presently 40.48%.

CEMIG Company Profile

(Get Free Report)

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.

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