Companhia Energetica de Minas Gerais (CIG): Traded shares at $2.23 on Tuesday, August 04

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Companhia Energetica de Minas Gerais (NYSE:CIG) changes shares on Tuesday trading session, with a change of -2.19% or -$0.05 shares. The trading starts at $2.25 and closed at $2.28 throughout the day. The trading session low price was $2.19 and day high was $2.29 on Tuesday, August 04. After the session, the Utilities sector daily volume shifted to 2.6 million while its average volume is 3.85M. In other hand, the CIG market cap reached to $3.35B. While, its current target price is $2.80.

On May 4, 2020, UPDATE 1-Brazilian power firm Cemig plans voluntary buyouts. According to the news reported on Reuters, The executive board of Brazilian power firm Cemig has approved a voluntary buyout program for up to 1,000 employees, according to an internal document seen by Reuters on Monday.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -8.61% and up 3.24% for month. Its quarterly performance was 33.53% above, while its half year performance is down -37.88%. CIG yearly performance stood at negative -35.20% and fall -33.30% for year-to-date. Current recommendation for Companhia Energetica de Minas Gerais is 1.50.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. CIG EPS (TTM) for 12-month is 0.27. Its EPS Q/Q reached -107.20%. It has an EPS of -3.80% down for past five years and for the next five years will be down 0.00%.

Let’s take a look on the analyst recommendations on CIG for the current month and previous month. For the current month, 5 of 7 analysts recommend stock as Buy while 1 as Sell, 0 as overweight, 0 as underweight and 1 as Hold. As compared with the previous month ratings, 7 analysts participate in stock recommendation. Out of 7, 1 rated it sell, 5 rated it as Buy and 1 as Hold Ratings. On the other hand, target price ranges from $1.93 – $2.82. Average target price for CIG was reached at $2.53.

Blackrock Inc., JP Morgan Chase & Company and Vanguard Group, Inc. (The) are the top three holders in Companhia Energetica de Minas Gerais (CIG) stock. On Mar 30, 2020, Blackrock Inc. has 25.82 million shares which valued 43.89 million. On Mar 30, 2020, JP Morgan Chase & Company owned 9.39 million shares which valued at 15.97 million. On Mar 30, 2020, Vanguard Group, Inc. (The) has a total of 6.39 million shares which valued at 10.86 million. In the end, Vanguard Group, Inc. (The) have 3.34% shares outstanding of Companhia Energetica de Minas Gerais (CIG) on Mar 30, 2020. The insider ownership moved to 1.00% and institutional holding shifted to 12.60%.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for CIG fall -13.92% for period of 200 days. SMA for 50 days was 1.72% which is showing green signal, while SMA-20 was -1.59%. The moving average value for Companhia Energetica de Minas Gerais (CIG) is 7.5M and 0.56% for 200 and 50 days respectively.