Is this the best time to Buy Companhia Energetica de Minas Gerais (NYSE:CIG) stock?

The company has a 12-month trailing PE ratio of 16.9. … and is +1.04% up over the past year, while Duke Energy Corp (DUK) is also down -6.22% yet …

Companhia Energetica de Minas Gerais (NYSE:CIG) traded at $1.96 at last check on 8/31/2020, making a downturn move of -6.22% on its previous day’s price.

Looking at the stock we see that its previous close was $2.09 and the beta (5Y monthly) reads 0.57 with the day’s price range being $1.9600 – 2.0300. The company has a 12-month trailing PE ratio of 16.9. In terms of its 52-week price range, CIG has a high of $3.6 and a low of $1.23. The company’s stock has gained about -12.04% over that past 30 days.

On the other hand, looking at the outlook for the CIG stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Sell.

Based on estimates by 8 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 2 have rated the Companhia Energetica de Minas Gerais (CIG) stock as a Hold, while 6 rate it as a Buy. None analysts rate it as outperform while none of them rated it as underperform, whereas none suggests the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Let’s briefly compare Companhia (CIG) stock to its peers. We find that today’s price change of -6.22% and -41.37% over the past 12 months for CIG competes that of Nextera Energy (NEE), which has seen its stock price fall -0.14% in the latest trading session and is +27.43% over the last one year. Another of its peers Dominion Resources (D) has climbed 0.54% today, and is +1.04% up over the past year, while Duke Energy Corp (DUK) is also down -6.22% yet its price remains in the red at -41.37% over the same period. Nextera has a P/E ratio of 38.08 compared to Companhia’s 16.9 and Dominion’s 121.24. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -0.22% and -0.78%, respectively, in early deals.

Coming back to Companhia Energetica de Minas Gerais (NYSE:CIG), we note that the average 3-month trading volume was 3.53 Million, while that of the preceding 10-day period stands at 3.83 Million. Current shares outstanding are 1.58 Billion.

According to data from Thomson Reuters, insiders hold 0.01% of the company’s shares while institutions hold 14.13%. The data shows that short shares as of August 13, 2020, stood at 9.14 Million at a short ratio of 2.57. This represents a 0.58% Short interest in Shares outstanding on August 13, 2020. Shares short rose in August from the previous month at 8.81 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -38.96% down in year-to-date price movement.