CEMIG (NYSE:CIG) Sets New 1-Year Low - Here's Why

CEMIG (NYSE:CIG - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The company traded as low as $1.59 and last traded at $1.70, with a volume of 5360790 shares. The stock had previously closed at $1.62.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Hsbc Global Res upgraded CEMIG to a "hold" rating in a research report on Friday, January 10th. HSBC lowered shares of CEMIG from a "buy" rating to a "hold" rating in a report on Friday, January 10th. Finally, Bank of America lowered shares of CEMIG from a "neutral" rating to an "underperform" rating in a research report on Tuesday, April 1st.

CEMIG Trading Up 0.9 %

The stock has a fifty day simple moving average of $1.85 and a 200 day simple moving average of $1.88. The firm has a market capitalization of $4.91 billion, a P/E ratio of 3.20 and a beta of 1.01. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35.

CEMIG Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid 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.