CEMIG (NYSE:CIG) Stock Passes Above Two Hundred Day Moving Average of $1.94

Shares of CEMIG (NYSE:CIG) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.94 and traded as high as $2.12. CEMIG shares last traded at $2.10, with a volume of 684,225 shares changing hands.

CEMIG Price Performance

The company has a market cap of $5.98 billion, a P/E ratio of 5.23 and a beta of 1.29. The firm’s 50-day moving average is $2.02 and its two-hundred day moving average is $1.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96.

CEMIG (NYSE:CIG) last posted its earnings results on Tuesday, August 13th. The utilities provider reported $0.07 earnings per share 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 for the quarter. Analysts anticipate that CEMIG will post 0.36 earnings per share for the current year.

CEMIG Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.0908 per share. This is a boost from CEMIG’s previous dividend of $0.03. The ex-dividend date of this dividend was Monday, August 26th. CEMIG’s payout ratio is 42.50%.

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.