CEMIG (NYSE:CIG) Now Covered by Analysts at Scotiabank

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

CEMIG Price Performance

CIG opened at $1.90 on Thursday. The firm has a market cap of $5.44 billion, a P/E ratio of 4.52 and a beta of 1.30. The firm has a 50-day moving average of $2.02 and a 200 day moving average of $1.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. CEMIG has a fifty-two week low of $1.62 and a fifty-two week high of $2.19.

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. The company had revenue of $1.81 billion during the quarter. CEMIG had a net margin of 15.70% and a return on equity of 21.49%. On average, research analysts expect that CEMIG will post 0.36 EPS for the current year.

CEMIG Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.0908 per share. The ex-dividend date was Monday, August 26th. This is a positive change from CEMIG’s previous dividend of $0.03. CEMIG’s dividend payout ratio (DPR) is currently 40.48%.

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.