CEMIG (NYSE:CIG) Sets New 12-Month Low – Time to Sell?

CEMIG (NYSE:CIG) hit a new 52-week low during trading on Friday . The stock traded as low as $1.68 and last traded at $1.69, with a volume of 329785 shares. The stock had previously closed at $1.77.

Wall Street Analyst Weigh In

CIG has been the subject of several analyst reports. Hsbc Global Res raised shares of CEMIG to a “hold” rating in a research report on Friday, January 10th. Bank of America cut CEMIG from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 1st. Finally, HSBC downgraded CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th.

CEMIG Price Performance

The company has a market cap of $4.85 billion, a PE ratio of 3.17 and a beta of 1.01. The business has a 50 day moving average of $1.88 and a 200 day moving average of $1.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04.

CEMIG Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a dividend of $0.033 per share. The ex-dividend date was Monday, March 31st. CEMIG’s payout ratio is 25.93%.

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.