(CIG-C) Energy of Minas Gerais DRC - Ratings and Ratios

Companhia Energética de Minas Gerais - CEMIG, a Brazilian energy giant, operates in the generation, transmission, distribution, and sale of energy. As of December 31, 2023, the company manages 57 hydroelectric plants with a combined capacity of 5,010.4 MW, 9 wind farms at 175.7 MW, and 2 photovoltaic stations at 3.9 MW. Its network spans 344,006 miles of distribution lines and 4,653 miles of transmission lines. Beyond electricity, CEMIG engages in gas distribution and energy trading, while also offering services in transmission infrastructure, distributed generation, and energy efficiency. Founded in 1952, CEMIG is headquartered in Belo Horizonte. Web URL: https://www.cemig.com.br

Over the next three months, CEMIGs stock (NYSE:CIG-C) is expected to trade in a narrow range. Support is anticipated near the 200-day SMA of $2.45, with resistance at the 50-day SMA of $2.55. The low ATR of 0.09 suggests limited volatility. Fundamental analysis indicates undervaluation with a P/E of 6.94 compared to its forward P/E of 12.89, though the absence of RoE data raises concerns. The stock may experience sideways movement unless driven by earnings or macroeconomic shifts. Average volume of 1,007 shares suggests moderate liquidity.