CEMIG (NYSE:CIG) Short Interest Up 60.9% in May

CEMIG (NYSE:CIG) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 663,300 shares, an increase of 60.9% from the May 15th total of 412,300 shares. Based on an average daily trading volume, of 2,720,000 shares, the days-to-cover ratio is presently 0.2 days.

CEMIG Stock Performance

NYSE:CIG traded down $0.03 during mid-day trading on Friday, hitting $1.82. 1,461,411 shares of the stock were exchanged, compared to its average volume of 2,860,991. The firm’s 50-day simple moving average is $1.93 and its 200 day simple moving average is $1.83. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 4.55 and a beta of 1.28. CEMIG has a fifty-two week low of $1.62 and a fifty-two week high of $2.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91.

CEMIG (NYSE:CIG) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.13 EPS for the quarter. CEMIG had a net margin of 14.81% and a return on equity of 22.80%. The business had revenue of $2.01 billion for the quarter. As a group, equities analysts anticipate that CEMIG will post 0.22 EPS for the current fiscal year.

CEMIG Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Monday, April 1st were issued a dividend of $0.0271 per share. The ex-dividend date of this dividend was Thursday, March 28th. CEMIG’s dividend payout ratio (DPR) is currently 45.00%.

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.