CEMIG (NYSE:CIG) Downgraded by Bank of America to “Underperform”

Bank of America lowered shares of CEMIG (NYSE:CIG) from a neutral rating to an underperform rating in a research note published on Tuesday, Marketbeat Ratings reports.

A number of other equities analysts have also commented on CIG. HSBC lowered shares of CEMIG from a “buy” rating to a “hold” rating in a research report on Friday, January 10th. Hsbc Global Res upgraded shares of CEMIG to a “hold” rating in a research note on Friday, January 10th.

CEMIG Stock Down 2.0 %

Shares of NYSE CIG opened at $1.73 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. The company has a market cap of $4.94 billion, a P/E ratio of 3.22 and a beta of 1.30. CEMIG has a 52 week low of $1.69 and a 52 week high of $2.19. The business has a 50-day simple moving average of $1.88 and a two-hundred day simple moving average of $1.91.

CEMIG Cuts Dividend

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

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.