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What Are The Chances Of Companhia Energetica de Minas Gerais. (CIG) Being A Good Investment?

Companhia Energetica de Minas Gerais (NYSE:CIG) has a beta value of 0.69 and has seen 3.56 million shares traded in the last trading session. The company, currently valued at $5.76B, closed the last trade at $2.18 per share which meant it gained $0.05 on the day or 2.35% during that session. The CIG stock price is -13.3% off its 52-week high price of $2.47 and 23.39% above the 52-week low of $1.67. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.53 million shares traded. The 3-month trading volume is 6.87 million shares.

The consensus among analysts is that Companhia Energetica de Minas Gerais (CIG) is a Hold stock at the moment, with a recommendation rating of 3.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 8 out of 8 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight.

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Companhia Energetica de Minas Gerais (NYSE:CIG) trade information

Sporting 2.35% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the CIG stock price touched $2.18 or saw a rise of 5.22%. Year-to-date, Companhia Energetica de Minas Gerais shares have moved 7.39%, while the 5-day performance has seen it change -2.68%. Over the past 30 days, the shares of Companhia Energetica de Minas Gerais (NYSE:CIG) have changed 8.93%. Short interest in the company has seen 11.17 million shares shorted with days to cover at 1.63.

Wall Street analysts have a consensus price target for the stock at $2.14, which means that the shares’ value could drop -1.87% from current levels. The projected low price target is $2.14 while the price target rests at a high of $2.14. In that case, then, we find that the current price level is 1.83% off the targeted high while a plunge would see the stock lose 1.83% from current levels.

Companhia Energetica de Minas Gerais (CIG) estimates and forecasts

Figures show that Companhia Energetica de Minas Gerais shares have underperformed across the wider relevant industry. The company’s shares have gained 12.84% over the past 6 months, with this year growth rate of -6.25%, compared to 7.20% for the industry. Revenue growth from the last financial year stood is estimated to be 27.40%.

1 analysts offering their estimates for the company have set an average revenue estimate of $203.59 million for the current quarter.

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 50.40% over the past 5 years.

CIG Dividends

Companhia Energetica de Minas Gerais is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.30 at a share yield of 13.95%. The company’s dividend yield has gone up over the past 12 months.

Companhia Energetica de Minas Gerais (NYSE:CIG)’s Major holders

Insiders own 0.00% of the company shares, while shares held by institutions stand at 21.35% with a share float percentage of 21.35%. Investors are also buoyed by the number of investors in a company, with Companhia Energetica de Minas Gerais having a total of 210 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 82.92 million shares worth more than $167.5 million. As of Jun 29, 2022, Blackrock Inc. held 5.66% of shares outstanding.

The other major institutional holder is Goldman Sachs Group Inc, with the holding of over 46.49 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $93.91 million and represent 3.17% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are iShares Global Clean Energy ETF and Goldman Sachs Emerging Markets Equity Insights Fund. As of Sep 29, 2022, the former fund manager holds about 2.24% shares in the company for having 32.81 million shares of worth $66.27 million while later fund manager owns 7.34 million shares of worth $16.29 million as of Jul 30, 2022, which makes it owner of about 0.50% of company’s outstanding stock.

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