Comp En De Mn Cemig (CIG) Stock Price & How to Invest

Cemig, incorporated in 1952 and headquartered in Belo Horizonte, is one of Brazil's largest integrated electric utilities and reports across six segments: Generation, Transmission, Trading, Distribution, Gas and Investees. As of December 31, 2025 it operated ~32 hydroelectric plants totaling ~4,434 MW, ~2 wind farms at ~71 MW and ~12 photovoltaic stations at ~169 MW, alongside ~365,577 miles of distribution lines and ~4,865 miles of transmission lines. Cemig D, the distribution arm, is the earnings anchor and serves the great majority of municipalities in Minas Gerais, Brazil's fourth-largest state economy. Gas distribution runs through Gasmig, and the trading arm sells into Brazil's expanding free market (mercado livre), where large and now mid-sized consumers choose their own supplier.

The investment picture is a regulated-utility cash machine wrapped in two layers of risk that have nothing to do with kilowatt-hours. Revenue for the trailing twelve months is ~R$43.7 billion, net income ~R$4.6 billion, the trailing P/E ~7.4, and the dividend yield ~6.4% on a ~$2.29 share price as of October 16, 2026. That yield is quoted in dollars but earned in reais, so a weaker real shrinks it even when the Brazilian business performs. The second-quarter 2026 report in August showed revenue of ~R$11.16 billion, up ~3.4% year over year, net income of ~R$945 million, and EPS of ~$0.06 per ADS against a ~$0.05 estimate, with recurring EBITDA near ~R$2.5 billion. The ADS is up ~11.2% year to date and ~17.4% over one year. The second layer of risk is ownership: the state of Minas Gerais holds voting control, which means tariff, capex and payout decisions are made inside a political system, and periodic privatization or asset-transfer talk (including under the federal Propag state-debt program) is a recurring driver of the price rather than a footnote. Two ADR lines exist: CIG is backed by preferred shares (CMIG4 in Sao Paulo) and CIG.C by common shares (CMIG3), with each ADS representing one underlying share and Citi as depositary.

Currency is the first-order risk: every real of earnings converts to fewer dollars when the real weakens, and the ADS price and dividend both absorb that directly. State control means politics reaches into tariffs, capex, executive appointments (a new CEO, Alexandre Ramos Peixoto, was elected on May 7, 2026) and payout, and privatization or share-transfer headlines can move the stock independently of results. Earnings growth is now negative, at ~-20% year over year on Yahoo's measure, and the forward P/E of ~15.3 sits well above the trailing ~7.4, implying analysts expect earnings to fall from here; the small group of covering analysts has a mean twelve-month target near ~$2.05, below the ~$2.29 price. Leverage is climbing with the capex plan, with debt near ~R$22.8 billion against ~R$3.1 billion of cash and negative trailing free cash flow. Hydrology matters because the generation fleet is overwhelmingly hydro, and dry years force purchases at spot prices. High Brazilian policy rates raise the discount rate on a long-duration utility and compete directly with its dividend for local capital, and CIG holders own preferred shares with limited voting rights, so they have little say in any of it.

3 analysts publish price targets on CIG, averaging $1.99 against a $1.82 price as of November 2026, or +9.3%. The published targets run from $1.80 to $2.25, a narrow spread, and the ratings split 0 buy, 1 hold, 2 sell. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full CIG forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Comp En De Mn Cemig. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. A ~R$44 billion capex plan through 2028 that grows the regulated asset base. Cemig is spending heavily on distribution and transmission. The most optimistic published target, $2.25, assumes this works close to its best case.

The case against. Currency is the first-order risk: every real of earnings converts to fewer dollars when the real weakens, and the ADS price and dividend both absorb that directly. The most pessimistic target, $1.80, is roughly what CIG is worth if this bites instead.

Read the full bull and bear case on CIG, including what would have to change to break either one. Walnut is not an investment adviser.

Yes. Comp En De Mn Cemig (CIG) has had one share split in the last 10 years:

• 13:10 on May 24, 2024, so every share held became 1.3 shares.

A split changes the share count and the price per share and leaves the value of a holding unchanged. Someone holding $1,000 of CIG the day before the 13:10 split held $1,000 the day after, in more shares at a proportionally lower price. Historical prices from before the date are normally shown split-adjusted, which is why a long-run chart shows no cliff.

Splits matter mainly because they make older price figures confusing to compare by hand, and because a board choosing to split is usually signalling that the price has run up far enough to feel awkward for smaller buyers. Neither is a reason to buy or sell.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Comp En De Mn Cemig's investor relations page or your broker.

• Share price (ADS): ~$2.29 (October 16, 2026)
• Market cap: ~$6.6 billion
• Revenue (TTM): ~R$43.7 billion, +~3% YoY latest quarter
• Net income (TTM): ~R$4.6 billion (profit margin ~10.5%)
• P/E (trailing / forward): ~7.4 / ~15.3
• Dividend yield: ~6.4% (~$0.15 per ADS)
• EV/EBITDA: ~3.3

Cemig reports in Brazilian reais, so dollar figures move with the exchange rate on their own. Full-year 2025 revenue was ~R$42.75 billion, up ~7.4%, but net income fell from ~R$7.12 billion in 2024 to ~R$4.9 billion in 2025, which is why a trailing P/E near ~7.4 coexists with a forward P/E above 15. The 52-week ADS range of ~$1.87 to ~$2.76 shows how much the currency and the political narrative swing a stock whose underlying revenue is regulated. The next scheduled report is November 12, 2026.

Other names that sit close to CIG: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. They are useful if you want to spread one thesis across several tickers.

There are three common ways to get CIG exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so CIG sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where CIG fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

CIG packages a regulated Brazilian utility with a dividend yield of roughly 6.4% into a ~$2.29 ADS, and the return depends as much on the Brazilian real and the state of Minas Gerais as on the electricity business itself.

Whether CIG is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is CIG a buy or a sell?, and where the stock could go from here in the CIG stock forecast.

For income investors, whether CIG pays a dividend and how the payout looks is covered in does CIG pay a dividend? And to weigh CIG against a peer, read the full side-by-side comparisons: CIG vs ELPC and CIG vs ENIC.