CEMIG (NYSE:CIG) Short Interest Down 13.9% in March

CEMIG (NYSE:CIG) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 1,730,000 shares, a drop of 13.9% from the February 28th total of 2,010,000 shares. Based on an average trading volume of 2,840,000 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CIG shares. Bank of America cut shares of CEMIG from a “neutral” rating to an “underperform” rating in a research note on Tuesday. HSBC downgraded CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Hsbc Global Res upgraded CEMIG to a “hold” rating in a report on Friday, January 10th.

CEMIG Trading Up 0.3 %

CIG traded up $0.01 during trading on Wednesday, hitting $1.73. 961,572 shares of the stock traded hands, compared to its average volume of 2,296,347. The firm has a market capitalization of $4.94 billion, a P/E ratio of 3.22 and a beta of 1.30. CEMIG has a 12-month low of $1.69 and a 12-month high of $2.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50-day moving average of $1.88 and a 200 day moving average of $1.91.

CEMIG Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a dividend of $0.033 per share. The ex-dividend date was Monday, March 31st. CEMIG’s dividend payout ratio is presently 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.