Companhia Energetica de Minas Gerais (NYSE:CIG) has a beta value of 1.15 and has seen 2,571,389 shares traded in the last trading session. The company, currently valued at $2.97 Billion, closed the last trade at $2.08 per share which meant it lost $0 on the day or -2.8% during that session. The CIG stock price is -97.6% off its 52-week high price of $4.11 and 38.46% above the 52-week low of $1.28. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.77 Million shares traded. The 3-month trading volume is 4.55 Million shares.
The consensus among analysts is that Companhia Energetica de Minas Gerais (CIG) is an Overweight stock at the moment, with a recommendation rating of 1.5. 1 analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 7 have rated it as a Hold, with 5 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.
Companhia Energetica de Minas Gerais (NYSE:CIG) trade information
Despite being -2.8% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Jul 02 when the CIG stock price touched $2.18-4 or saw a rise of 4.47%. Year-to-date, Companhia Energetica de Minas Gerais shares have moved -39%, while the 5-day performance has seen it change -2.35%. Over the past 30 days, the shares of Companhia Energetica de Minas Gerais (NYSE:CIG) have changed -3.26%. Short interest in the company has seen 7.5 Million shares shorted with days to cover at 1.65.
Wall Street analysts have a consensus price target for the stock at $2.43, which means that the shares’ value could jump 16.83% from current levels. The projected low price target is $2.01 while the price target rests at a high of $2.77. In that case, then, we find that the current price level is +33.17% off the targeted high while a plunge would see the stock lose -3.37% from current levels.
Companhia Energetica de Minas Gerais (CIG) estimates and forecasts
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -3.8% over the past 5 years. Earnings growth for 2020 is a modest +117.2%.
Companhia Energetica de Minas Gerais is expected to release its next earnings report in July, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.18 at a share yield of 8.35%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 5.41%.
Companhia Energetica de Minas Gerais (NYSE:CIG)’s Major holders
Insiders own 0.01% of the company shares, while shares held by institutions stand at 14.13% with a share float percentage of 14.13%. Investors are also buoyed by the number of investors in a company, with Companhia Energetica de Minas Gerais having a total of 170 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 25.82 Million shares worth more than $43.89 Million. As of March 30, 2020, Blackrock Inc. held 13.5% of shares outstanding.
The other major institutional holder is JP Morgan Chase & Company, with the holding of over 9.39 Million shares as of March 30, 2020. The firm’s total holdings are worth over $15.97 Million and represent 4.91% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Global Clean Energy ETF and iShares Latin America 40 ETF. As of March 30, 2020, the former fund manager holds about 4.85% shares in the company for having 9275535 shares of worth $15.77 Million while later fund manager owns 3.25 Million shares of worth $5.52 Million as of March 30, 2020, which makes it owner of about 1.7% of company’s outstanding stock.