Take off with Companhia Energetica de Minas Gerais (CIG): Get ready for trading

Companhia Energetica de Minas Gerais (NYSE: CIG) stock jumped 3.18% on Friday to $2.27 against a previous-day closing price of $2.20. With 1.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.44 million shares. During the session, the Utilities – Diversified company that operates in wider Utilities sector, reached to the highest price of $2.2900 whereas the lowest price it dropped to was $2.2150. The 52-week range on CIG shows that it touched its highest point at $2.61 and its lowest point at $1.54 during that stretch. It currently has a 1-year price target of $2.17. With its current market cap of 5.54 billion, CIG has annualized dividend of $0.29 while the current yield stands at 12.78%. Beta for the stock currently stands at 0.63.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CIG was up-trending over the past week, with a rise of 2.25%, but this was up by 18.85% over a month. Three-month performance surged to 10.11% while six-month performance rose 17.57%. The stock gained 38.28% in the past year, while it has gained 21.44% so far this year. A look at the trailing 12-month EPS for CIG yields 0.48 with Next year EPS estimates of 0.19. EPS is expected to decline by 0.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 50.40%.

Float and Shares Shorts:

At present, 2.20 billion CIG shares are outstanding with a float of 1.72 billion shares on hand for trading. On Jul 14, 2022, short shares totaled 12.91 million, which was 0.59% higher than short shares on Jun 14, 2022. In addition to Mr. Reynaldo Passanezi Filho as the firm’s CEO, Pres & Member of Exec. Board, Mr. Leonardo George de Magalhães serves as its Chief Officer for Fin. & Investor Relations and Member of Exec. Board.

Institutional Ownership:

Through their ownership of 19.48% of CIG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.16% of CIG, in contrast to 7.85% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CIG with 2.84% of the stake, Goldman Sachs Asset Management LP holds 41,610,407 shares worth 41,610,407. A second-largest stockholder of CIG, BlackRock Fund Advisors, holds 32,176,883 shares, controlling over 2.20% of the firm’s shares. BlackRock Advisors is the third largest shareholder in CIG, holding 30,778,405 shares or 2.10% stake. With a 2.52% stake in CIG, the iShares II Plc – Global Clean Ene is the largest stakeholder. A total of 36,885,245 shares are owned by the mutual fund manager. The iShares Global Clean Energy ETF, which owns about 2.13% of CIG stock, is the second-largest Mutual Fund holder. It holds 31,205,666 shares valued at 63.04 million. GS Funds – Emerging Markets CORE holds 0.77% of the stake in CIG, owning 11,206,108 shares worth 22.64 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CIG since 11 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CIG analysts setting a high price target of $2.14 and a low target of $2.14, the average target price over the next 12 months is $2.14. Based on these targets, CIG could drop -5.73% to reach the target high and fall by -5.73% to reach the target low. Reaching the average price target will result in a decline of -5.73% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CIG will report FY 2022 earnings on 03/30/2023. Analysts have provided yearly estimates in a range of $0.46 being high and $0.25 being low. For CIG, this leads to a yearly average estimate of $0.32. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Companhia Energetica de Minas Gerais surprised analysts by $0.04 when it reported $0.13 EPS against a consensus estimate of $0.08. The surprise factor in the prior quarter was $0.09. Based on analyst estimates, the high estimate for the next quarter is $0.10 and the low estimate is $0.07. The average estimate for the next quarter is thus $0.08.

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