TSP Capital Management Group LLC Has $17.90 Million Stake in Comp En De Mn Cemig ADS $CIG

TSP Capital Management Group LLC reduced its stake in Comp En De Mn Cemig ADS (NYSE:CIG) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,130,696 shares of the utilities provider’s stock after selling 63,509 shares during the period. Comp En De Mn Cemig ADS makes up 5.6% of TSP Capital Management Group LLC’s portfolio, making the stock its 3rd largest holding. TSP Capital Management Group LLC owned approximately 0.32% of Comp En De Mn Cemig ADS worth $17,896,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raiffeisen Bank International AG increased its holdings in shares of Comp En De Mn Cemig ADS by 8.5% in the second quarter. Raiffeisen Bank International AG now owns 98,713 shares of the utilities provider’s stock worth $184,000 after purchasing an additional 7,725 shares during the last quarter. Metis Global Partners LLC grew its holdings in Comp En De Mn Cemig ADS by 25.7% during the 2nd quarter. Metis Global Partners LLC now owns 103,517 shares of the utilities provider’s stock valued at $203,000 after buying an additional 21,165 shares in the last quarter. Atria Investments Inc bought a new stake in Comp En De Mn Cemig ADS in the 2nd quarter worth approximately $394,000. Envestnet Asset Management Inc. boosted its position in shares of Comp En De Mn Cemig ADS by 2,157.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock valued at $4,571,000 after acquiring an additional 2,228,591 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Comp En De Mn Cemig ADS by 188.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 170,383 shares of the utilities provider’s stock valued at $334,000 after acquiring an additional 111,394 shares during the last quarter.

Comp En De Mn Cemig ADS Stock Performance

NYSE CIG opened at $2.14 on Wednesday. The business’s 50 day moving average price is $2.07 and its 200-day moving average price is $1.96. Comp En De Mn Cemig ADS has a fifty-two week low of $1.59 and a fifty-two week high of $2.30. The company has a market cap of $6.11 billion, a P/E ratio of 9.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Comp En De Mn Cemig ADS in a research note on Thursday, November 13th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Comp En De Mn Cemig ADS currently has an average rating of “Hold”.

About Comp En De Mn Cemig ADS

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.