CIG-C - Companhia Energética de Minas Gerais

NYSE - NYSE Delayed Price. Currency in USD
2.4606
0.0000 (0.0000%)
At close: 2:02PM EDT
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Previous Close2.4606
Open2.3700
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range2.3700 - 2.5100
52 Week Range2.3700 - 2.5100
Volume1
Avg. VolumeN/A
Market Cap3.29B
Beta2.31
PE Ratio (TTM)17.33
EPS (TTM)0.14
Earnings DateN/A
Forward Dividend & Yield0.00 (0.00%)
Ex-Dividend Date2016-12-29
1y Target EstN/A
Trade prices are not sourced from all markets
  • Reuters15 hours ago

    Brazil's Cemig fires business development director, sources say

    Brazilian state-run electricity company Companhia Energética de Minas Gerais SA has dismissed its business development director, two sources with knowledge of the matter told Reuters. Cesar Vaz Fernandes's exit will be followed by management changes that will affect at least two other top executives, one of the sources said. Cemig, as the company is known, did not have an immediate comment.

  • Reuters15 days ago

    Brookfield refrains from higher bid for Brazil's Renova -source

    Brookfield Asset Management Inc has refrained from improving an original bid for Brazilian renewable power company Renova Energia SA, after due diligence proceedings showed liabilities that were unaccounted for, a person with direct knowledge of the situation said on Thursday. Brookfield is leaning toward presenting a bid to Cia Energética de Minas Gerais SA and Light SA, valuing their combined 67 percent voting stake at the equivalent of 9 reais ($2.85) per unit of Renova, said the person, who asked for anonymity because the transaction remains private. A final round of auditing in Renova showed an unnamed project bore a shortfall that had been previously unaccounted for, the person said, without elaborating.

  • Reuters21 days ago

    Exclusive: Brazil's Minas state to oust Cemig CEO Alvarenga, sources say

    The No. 1 shareholder in Cia Energética de Minas Gerais SA has decided to oust Chief Executive Bernardo Alvarenga and three senior executives after the debt-laden power utility lost control of four dams and took too long to shed assets, two people directly involved in the matter said on Friday. The Brazilian sate of Minas state, which has 51 percent voting control of the utility known as Cemig, will announce the ouster of Alvarenga and three senior vice presidents after their replacements have been found, one of the people said.

  • Reuters21 days ago

    Cemig to exit Brazil's Renova as Brookfield hints at higher bid: sources

    Cia Energética de Minas Gerais SA and a subsidiary plan to exit their controlling stake in Brazilian renewable power company Renova Energia SA as Brookfield Asset Management Inc considers raising a takeover bid more than initially expected, two people with direct knowledge of the matter said on Friday. According to the people, who requested anonymity because the talks remain private, Brookfield would offer Cemig and subsidiary Light SA the equivalent of 11.75 reais ($3.72) per unit of Renova. Reuters reported on Sept. 19 that Brookfield was considering proposing to buy each unit of Renova at 11.25 reais to persuade both shareholders into selling their combined 64.4 percent stake.

  • Reuters24 days ago

    EMERGING MARKETS-LatAm currencies weaken on Yellen comments, Trump tax plan

    Latin American currencies weakened on Wednesday as the market digested comments from Federal Reserve Chair Janet Yellen which seemed to confirm that further U.S. interest rate hikes are coming soon. In an address on Tuesday, Yellen said it would be "imprudent" to keep rates on hold until inflation accelerates to the U.S. central bank's 2 percent target. U.S. President Donald Trump's plan to slash rates on businesses and the wealthy could also speed up consumer price increases, paving the way for tighter monetary policy.

  • Reuters25 days ago

    EMERGING MARKETS-LatAm currencies down on N.Korea, Fed jitters

    Latin American currencies weakened on Tuesday, weighed down by continuing tensions between North Korea and the United States, as well as the prospect of higher U.S. interest rates. North Korea's foreign ...

  • Reuterslast month

    Brazil's Vale to meet debt target before implementing new growth plans -exec

    The new growth strategy being evaluated by Brazil's Vale would only be implemented once the company meets its debt reduction targets, an executive director for the world's largest iron ore producer said ...

  • Reuterslast month

    EMERGING MARKETS-Brazil currency falls as Temer faces fresh graft probe

    The Brazilian real plunged on Tuesday as a Supreme Court judge authorized a fresh investigation into beleaguered President Michel Temer for suspected corruption. Justice Luis Roberto Barroso authorized the investigation of Temer on suspicion of graft charges involving a decree regulating ports, adding to corruption allegations the president has so far parried with backing from Congress.

  • Reuterslast month

    EMERGING MARKETS-Brazil currency weaker as Temer falls under police suspicion

    The Brazilian real weakened on Tuesday after police said they suspected President Michel Temer, alongside a group of close aides from his party, participated in illegal acts. In a report on Monday, police ...

  • Reuterslast month

    Brazil's Andrade Gutierrez walks out of Cemig shareholder accord

    In a surprise move, a unit of Andrade Gutierrez SA, a Brazilian infrastructure and energy conglomerate, decided to leave the controlling bloc of Cia Energetica de Minas Gerais SA, putting an end to months of tension with the Brazilian power utility's largest shareholder. In a Thursday filing, the utility known as Cemig said that AGC Energia S/A, a subsidiary of Andrade Gutierrez, said it would sell its stake in the company through a bloc trade, without elaborating. For almost 15 years, Andrade Gutierrez was part of Cemig's controlling bloc with the Brazilian state of Minas Gerais.

  • Reuters2 months ago

    EMERGING MARKETS-Chile peso touches 2-year high vs dollar as copper soars

    The Chilean peso on Tuesday hit the strongest level in over two years as prices of copper soared, lifted by falling global inventories of the base metal, a key Chilean export. Benchmark copper futures ...

  • Reuters2 months ago

    China's SPIC to participate in Brazil dam auctions -source

    China's State Power Investment Corp plans to participate in the auction of four hydroelectric dams whose licensing was seized from Cia Energética de Minas Gerais SA in recent months, a person with direct knowledge of the situation said on Monday. The Chinese company, known as SPIC, has arranged the help of two unnamed investment banks to structure a proposal for the Miranda, São Simão, Jaguara and Volta Grande dams, said the person, who was not authorized to publicly discuss the matter and requested anonymity. The four dams, in the states of São Paulo and Minas Gerais, have a combined generation capacity of 2.9 gigawatts.

  • CEMIG (CIG) Unit to Sell Umburanas Wind Farm Rights to Engie
    Zacks2 months ago

    CEMIG (CIG) Unit to Sell Umburanas Wind Farm Rights to Engie

    Selling Umburanas wind farm complex project to Engie Brasil will improve Renova's, unit of Companhia Energetica de Minas Gerais (CIG), liquidity position and lower capital spending needs.

  • Reuters2 months ago

    Brazil's Cemig profit misses estimates as financial income slumps

    Cia Energética de Minas Gerais SA missed second-quarter profit estimates as some costs rose faster than revenue and income from financial investments slumped, probably reflecting a decline in domestic borrowing costs. Net income was 138.11 million reais ($43 million) in the quarter, down 32 percent from the same period a year ago, Cemig said in a securities filing late on Friday. The number missed the average consensus estimate of 341.51 million reais compiled by Thomson Reuters.

  • Reuters3 months ago

    Chinese may bid for Brazil clean energy assets -letter

    Chinese investors may bid for assets belonging to Brazil's renewable energy company Renova Energia SA and power generation assets owned by Light SA, according to a letter sent to managers of the firms seen by Reuters. The plan announced by the company, known as Cemig, may entail the full sale of both Light and Renova. Cemig declined comment.

  • Reuters3 months ago

    China's Ciri says Chinese groups vying for Cemig energy assets

    Chinese groups are interested in acquiring assets belonging to clean energy company Renova Energia SA and generation assets belonging to Renova's parent Light SA, according to a document seen by Reuters. ...

  • Reuters3 months ago

    EMERGING MARKETS-LatAm currencies up after weak U.S. inflation, retail data

    Latin American currencies strengthened on Friday after weaker-than-expected U.S. economic data reduced bets on a third U.S. interest rate increase this year, with Mexico's peso gaining to its strongest ...

  • Reuters3 months ago

    Brookfield, Renova talks cool over management rights, sources say

    The reluctance of Renova Energia SA's largest shareholder to give up management of the debt-laden Brazilian renewable power firm threatens to derail takeover talks with Brookfield Asset Management Inc, three people familiar with the matter said on Thursday. Power utility Cia Energética de Minas Gerais SA wants to be part of a Brookfield-led turnaround of Renova, two of the people said. The utility known as Cemig owns 34.2 percent of Renova.

  • Reuters3 months ago

    Brazil's Cemig vows to use asset sales to repay debt

    Cia Energética de Minas Gerais SA will mainly use proceeds from planned asset sales to repay 5 billion reais ($1.5 billion) of debt maturing this year, as Brazil's most leveraged major power utility faces pressure from creditors to downsize quickly. In a Monday conference call with investors, Chief Financial Officer Adezio Lima said Cemig had decided to fully dispose of a majority, 43 percent stake in Rio de Janeiro utility Light SA and focus on in-house generation, transmission, distribution and sale of electricity. Cemig, Brazil's No. 3 power utility, is making headway on efforts to cut capital spending this year after losing the licensing rights for several hydropower dams and seeing a surge in fresh capital needs from some subsidiaries, Lima said.

  • Reuters3 months ago

    EMERGING MARKETS-Mexico peso extends gains on trade talk hopes

    The Mexican peso extended gains on Monday as investors hoped that talks between Mexico and the United States over the North America Free Trade Agreement could soon reach a favorable conclusion. After suffering ...

  • Reuters3 months ago

    Brookfield proposes Brazil's Renova buyout -sources

    Brookfield Asset Management Inc has proposed buying out Renova Energia SA's controlling bloc as part of a sweetened bid to take over the debt-laden Brazilian renewable energy firm, two people with knowledge of the deal said on Friday. Under terms of a bid originally submitted on Monday, Brookfield would buy out the stake that Light SA has in Renova at an equivalent of 9 reais per unit. Canada's Brookfield, which has made a number of high-profile infrastructure and energy acquisitions in Brazil over the past year, would pay Renova's controlling bloc about 810 million reais ($247 million) for their stakes and pump about 800 million reais worth of fresh capital into the company, the same person said.

  • Companhia Energetica (CIG) in Focus: Stock Moves 6.4% Higher
    Zacks4 months ago

    Companhia Energetica (CIG) in Focus: Stock Moves 6.4% Higher

    Companhia Energetica (CIG) was a big mover last session, as the company saw its shares rise over 6% on the day amid huge volumes.

  • CEMIG (CIG) to Sell Interest in Light, Aims Deleveraging
    Zacks4 months ago

    CEMIG (CIG) to Sell Interest in Light, Aims Deleveraging

    Companhia Energetica de Minas Gerais (CIG), also known as CEMIG recently announced that it has decided to commence the sale of its entire equity interest in Light S.A. The move is in sync with the company's disinvestment plan for deleveraging its balance sheet.

  • Reuters4 months ago

    Brazil state wants Cesp sale by September, sources say

    Brazil's São Paulo state aims to sell control of Cia Energética de São Paulo SA by around September, two people with knowledge of the plan said on Thursday, marking the latest move by regional governments in Latin America's No. 1 economy to raise cash and exit the utility industry. According to the sources, who requested anonymity since the plan remains private, state officials and financial advisors are deciding on final terms for the sale - an auction to take place in the São Paulo Stock Exchange.

  • Reuters4 months ago

    China firms, foreign funds seen as bidders for Eletrobras, Cemig assets

    Chinese power utilities and foreign investment funds are seen as the likely bidders in upcoming asset sales in Brazil's electricity industry, as debt-laden state utilities seek to root out years of political mismanagement and balance sheet overstretching, according to lawyers familiar with the market. Centrais Elétricas Brasileiras SA, known as Eletrobras, and Cia Energética de Minas Gerais SA, known as Cemig, plan to divest generation and transmission assets, including their stakes in some of Brazil's largest hydroelectric dams - Santo Antônio and Belo Monte. Large Chinese strategic investors will probably be the winning bidders for the dams, because the size of the projects fit their strategies better and they would be willing to pay more, said Tiago Figueiró, who is part of the team involved in electricity industry issues at São Paulo-based law firm Veirano Advogados.