CIG Stock Summary and Trading Ideas (Cia Energetica De Minas | NYSE:CIG)

Cia Energetica DE Minas Gerais - Cemig Formerly Energy Company of Minas Gerais is a Brazilian power company that generates, transmits, and distributes electricity. As one of the largest power companies in Brazil, the firm operates across most Brazilian states and Chile. The company has various subsidiaries and operates chiefly through its generation, transmission, distribution, and gas segments. The majority of the company's revenue is derived from electricity sales to consumers. The company generates power primarily through hydroelectric resources and secondarily through thermal and wind resources.

Cia Energetica De Minas trades on the NYSE stock market under the symbol CIG.

As of April 26, 2024, CIG stock price climbed to $2.43 with 1,462,680 million shares trading.

CIG has a beta of 0.60, meaning it tends to be less sensitive to market movements. CIG has a correlation of 0.04 to the broad based SPY ETF.

CIG has a market cap of $5.35 billion. This is considered a Mid Cap stock.

In the last 3 years, CIG stock traded as high as $3.39 and as low as $1.82.

The top ETF exchange traded funds that CIG belongs to (by Net Assets): VXUS, SPEM, VWO, IGF, AVEM.

CIG has underperformed the market in the last year with a price return of +12.0% while the SPY ETF gained +27.4%. However, in the short term, CIG had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.4% vs +4.6% return in SPY. But in the last 2 weeks, CIG shares have been beat by the market, returning -1.6% compared to an SPY return of -0.5%.

CIG support price is $2.37 and resistance is $2.45 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CIG stock will trade within this expected range on the day.