The Brazilian power generation company, CEMIG is already one of the biggest power generating and distributing company in Brazil. Being the fourth largest company in the electricity sector, it commands 12% of the country’s distribution. Owning the generating capacity of nearly 6000 MW, it trades its stock as NYSE: CIG.C at https://www.webull.com/quote/nyse-cig.c
The stock of Cemig is also associated with The Global Dow and also traded on Madrid Stock Exchange and BM&F Bovespa. 43 per cent of Taesa, another electric company of Brazil, is owned by CEMIG. Key points are as follows:
- The latest market cap on this stock is of 3.13B.
- Earnings per share (TTM) has been 0.213.
- The Yield and Forward Dividend is 0.18 or 8.27%
- The beta of this stock is 1.12
The Latest Reportings
The 13F filings of NYSE: CIG.C present the portfolio positions of investors and funds as on March 31 which is one week later to market trough. As of now, the Q2 is almost done. In the view of investors, there was to be an economic recovery along with a rebound in the stock market. There was a return of about 20 per cent by the S&P Index in this quarter. There are still speculations as to whether an investment in CEMIG is a good option and what the position is relative to other stocks traded.
The position of hedge funds on NYSE: CIG.C
Talking about smart money, it can be said safely that they were being hopeful. It climbed up by 1 position in the listings of long hedge funds. However, NYSE: CIG.C can still not be counted as one of the most preferred stocks. By the end of the first quarter, it was among 10 portfolios of hedge funds. As you might probably know, hedge funds give the investors a good measure to gauge the stocks. To perform better than the wider indices, it is highly recommended to follow the best choices of fund managers.
As we move into the Q2 of 2020, it has been found that NYSE: CIG.C is being held long positions by exactly 10 hedge funds. There is a variation of 11 per cent compared with the Q1. On comparing, it can be assessed that 9 hedge funds were holding options of bullish calls or shares in CIG the previous year. As the capital of hedge funds moved from one place to the other, there has been a formation of a top tier of prominent managers of hedge funds. These are the ones who have been increasing their stakes in a proper way or probably have already amassed big positions. You can check more stock news before finding stocks to invest in. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.