Scotiabank Initiates Coverage on CEMIG (NYSE:CIG)

Scotiabank assumed coverage on shares of CEMIG (NYSE:CIG) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage issued a sector perform rating on the utilities provider’s stock.

CEMIG Stock Down 1.6 %

Shares of NYSE:CIG opened at $1.90 on Thursday. CEMIG has a 1 year low of $1.62 and a 1 year high of $2.19. The company has a market capitalization of $5.44 billion, a PE ratio of 4.55 and a beta of 1.30. The business has a fifty day moving average price of $2.02 and a two-hundred day moving average price of $1.96. 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 quarterly 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 company had revenue of $1.81 billion during the quarter. Analysts forecast that CEMIG will post 0.36 earnings per share for the current year.

CEMIG Increases Dividend

The business also recently declared a dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a $0.0908 dividend. The ex-dividend date of this dividend was Monday, August 26th. This is a boost from CEMIG’s previous dividend of $0.03. CEMIG’s payout ratio is 40.70%.

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.