CEMIG (NYSE:CIG) Cut to "Underperform" at Bank of America

Bank of America downgraded shares of CEMIG (NYSE:CIG - Free Report) from a neutral rating to an underperform rating in a research report report published on Tuesday morning, MarketBeat reports.

CIG has been the subject of a number of other reports. Hsbc Global Res upgraded shares of CEMIG to a "hold" rating in a research note on Friday, January 10th. HSBC lowered shares of CEMIG from a "buy" rating to a "hold" rating in a research report on Friday, January 10th.

CEMIG Stock Down 4.2 %

Shares of CIG stock traded down $0.08 during mid-day trading on Tuesday, hitting $1.70. The company's stock had a trading volume of 3,885,123 shares, compared to its average volume of 2,301,582. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04. CEMIG has a 52-week low of $1.66 and a 52-week high of $2.19. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 3.17 and a beta of 1.01. The business has a 50-day moving average price of $1.88 and a 200 day moving average price of $1.91.

CEMIG Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a $0.033 dividend. The ex-dividend date was Monday, March 31st. CEMIG's dividend payout ratio is currently 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.