Companhia Energetica de Minas Gerais-CEMIG engages in the generation, transmission, distribution, and sale of electricity. Gas distribution, telecommunication, and the provision of energy solutions. In simple words, it engages in a wide range of segments regarding electricity. The company does its trading through the New York stock exchange and is registered as NYSE: CIG.C at https://www.webull.com/quote/nyse-cig.c.
- The generation of electricity is done through hydroelectric plants, thermoelectric plants, and wind farms.
- The transmission takes place through electric power transmission that transports electric power from facilities where it is generated to distribution and then finally to its users.
The company was formed on May 22, 1952, with its headquarters in Brazil.
The stock news about NYSE: CIG.C
If you want to buy stock with a high return then it is good to buy NYSE: CIG.C. This can be a profitable investment option because according to analysts a long term increase is to be expected. The companies quote is equal to 2.130 USD in 2020. And the five-year forecast in 2025 shows that it will be 3.175. That means if you have $ 100 now, in five years it will be $ 149.80. So a long term increase is predicted and this is a good time for the investment.
Is it good to invest?
As the predictions are for long term increase then yes, this is good. The company deals in the generation, and distribution of power. The company is one of the largest power generators and distributors in Brazil. So according to the stockbrokers, it is a good investment. The revenue of the company is about 650 crores USD. That means everything looks good with NYSE: CIG.C.
CEMIG is a strong company with strong assets and is the leading power generator and supplier in Brazil. All the economies worldwide have been affected by the pandemic COVID 19. Brazil too is not left behind and the fall in its economy has taken a toll on the companies. CEMIG too is on a bad phase right now. With the return of normalcy, things are going to pick up for the company.
The bottom line is
Just before the pandemic a lot of companies were thinking of expanding their business, but right now most of the businesses are finding it hard to survive. But as CEMIG or NYSE: CIG.C deals in the generation and distribution of power, the COVID 19 has not affected it much. Because electricity is an important aspect no matter what the condition.
Investment analysts are predicting a good increase in the long run. So investors need not panic due to this bad phase of the company. Things are going to brighten up in a short time. You can check the stock information at the best stock trading app. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.