CEMIG (NYSE:CIG) Sees Significant Growth in Short Interest

CEMIG (NYSE:CIG) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,270,000 shares, an increase of 13.5% from the June 30th total of 2,880,000 shares. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is presently 1.8 days.

CEMIG Stock Up 3.8 %

Shares of CIG stock traded up $0.07 during trading hours on Monday, hitting $1.93. 2,538,359 shares of the company were exchanged, compared to its average volume of 2,597,867. CEMIG has a 52 week low of $1.62 and a 52 week high of $2.12. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $1.89 and a two-hundred day moving average of $1.86. The company has a market capitalization of $5.52 billion, a PE ratio of 4.65 and a beta of 1.29.

CEMIG (NYSE:CIG) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.13 EPS for the quarter. The company had revenue of $2.01 billion for the quarter. CEMIG had a return on equity of 22.54% and a net margin of 14.81%. Analysts anticipate that CEMIG will post 0.22 earnings per share for the current fiscal year.

CEMIG Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, July 1st were issued a $0.0275 dividend. The ex-dividend date was Monday, July 1st. This is an increase from CEMIG’s previous dividend of $0.03. CEMIG’s dividend payout ratio (DPR) is 42.50%.

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.