# Companhia Energética de Minas Gerais - CEMIG (CIG)

> Source: Nexqual · https://nexqual.com/CIG · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Companhia Energética de Minas Gerais - CEMIG (CIG), nexqual.com/CIG" · informational, not investment advice.

**Price:** USD 2.28 (+0.00% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 2.28 · day 2.26–2.3 · 52w 1.87–2.76 · market cap $6.52B · NYQ

## Key facts
- 2 of 80 tracked superinvestors hold CIG (13F, Q2 2026): 0 new, 0 added, 1 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $4K; 1 not under a Rule 10b5-1 plan ($4K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Sell (mean 4.00 on a 1–5 scale) (3 analysts), mean target USD 2.05 (range 1.91–2.25).
- Total return with dividends: 1Y +21.1% vs S&P 500 +14.9%; 5Y +128.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-12, EPS estimate USD 0.05, revenue estimate $8.28B.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold CIG. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $32K | Unchanged |
| Richard Pzena | Pzena Investment Management | <0.01% | $953K | Reduced -58.0% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-04-06 | Ferreira De Souza Aloisio Macario | Director | 1,550 | $4K | 19.4% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Sell (mean 4.00 on a 1–5 scale), 3 analysts; mean target USD 2.05 (low 1.91, high 2.25).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +21.1% | +128.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +21.2% | +17.9% |
| Volatility (annualized) | 32.3% | 35.2% |
| Max drawdown | -28.2% (Apr 2026→Aug 2026) | -37.6% (Apr 2022→Oct 2022) |

## Peers (Utilities - Regulated Electric)
IDA (IDACORP, Inc.) USD 142.06 +2.50% · OGE (OGE Energy Corp) USD 48.92 +2.02% · ELPC (Companhia Paranaense de Energia) USD 13.83 +0.22% · PNW (Pinnacle West Capital Corporati) USD 106.61 +2.62% · KEP (Korea Electric Power Corporatio) USD 10.72 -0.09% · EMA (Emera Incorporated) USD 49.36 +4.20%

## More
Full page: https://nexqual.com/CIG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.05 | $0.05 | -6.0% | $8.28B | 1 |
| Next quarter (ends 2026-12-31) | $0.06 | $0.05 | +13.5% | $8.26B | 1 |
| Current fiscal year (ends 2026-12-31) | $0.03 | $0.15 | -80.0% | $37.73B | 1 |
| Next fiscal year (ends 2027-12-31) | $0.18 | $0.16 | +7.9% | $35.42B | 1 |