CIG-C
UtilitiesCompanhia Energética de Minas Gerais · Diversified Utilities · $9B
What is Companhia Energética de Minas Gerais?
Companhia Energética de Minas Gerais, known as CEMIG, is one of Brazil's largest integrated energy companies. Operating across generation, transmission, distribution, and energy trading, it serves millions of customers throughout the country.
CEMIG generates electricity through a diverse mix of hydroelectric, wind, and solar plants, then transmits and distributes that power across an extensive network of lines. Beyond electricity, the company transports and distributes natural gas and offers cloud computing, IT infrastructure, cybersecurity, and telecommunications services. It also provides technology systems for managing public service concessions and engages in energy trading and distributed generation activities.
CEMIG was incorporated in 1952 and is headquartered in Belo Horizonte, Brazil.
- Hydroelectric, wind, and solar power generation
- Electricity transmission and distribution network
- Natural gas transportation and distribution
- Cloud, IT infrastructure, and cybersecurity services
- Energy trading and distributed generation solutions
Is CIG-C a Good Stock to Buy?
UQS Score rates CIG-C as Below Average overall.
Among the five pillars, Valuation stands out as the relative bright spot, rated Good — suggesting the market may not be pricing in a premium for this stock relative to its fundamentals. The Quality pillar lands at Neutral, indicating the business maintains baseline operational characteristics typical of regulated utilities.
The Moat, Growth, and Risk pillars all register as Weak, pointing to limited competitive differentiation, constrained expansion prospects, and meaningful risk factors — including the regulatory and macroeconomic pressures common to Brazilian utilities.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does CIG-C pay dividends?
Yes — Companhia Energética de Minas Gerais pays a dividend.
CEMIG pays a regular dividend, consistent with the income-oriented nature of large regulated utilities. Brazilian utility companies are often required by regulation and shareholder agreements to distribute a meaningful portion of profits. Investors seeking income exposure to emerging-market infrastructure may find the dividend cadence relevant, though currency and regulatory risks are factors worth weighing.
When does CIG-C report earnings?
Companhia Energética de Minas Gerais reports earnings on a quarterly cadence, as is standard for publicly listed equities on US exchanges.
CEMIG's results reflect the dynamics of a regulated utility operating in Brazil — revenue is tied to concession agreements and tariff reviews rather than open-market pricing. Growth and margin trends are shaped by regulatory decisions, energy mix, and broader Brazilian economic conditions.
For the most recent quarter's results and guidance, visit Companhia Energética de Minas Gerais's official investor relations page.
CIG-C Price History
+196.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Companhia Energética de Minas Gerais?
Based on Companhia Energética de Minas Gerais's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
CIG-C Long-term Outlook
The UQS Growth pillar for CIG-C is rated Weak, reflecting limited near-term expansion catalysts within a heavily regulated operating environment. The Risk pillar is also Weak, highlighting exposure to currency volatility, regulatory tariff risk, and Brazil's macroeconomic backdrop. That said, the Good Valuation rating suggests the stock may already reflect much of this uncertainty in its current pricing.
Growth drivers
- Renewable energy capacity expansion through wind and solar projects
- Diversification into IT, cloud, and telecommunications services
- Tariff resets and concession renewals under Brazilian regulatory frameworks
Key risks
- Regulatory and tariff decisions by Brazilian energy authorities
- Brazilian real currency fluctuations affecting USD-denominated returns
- Elevated leverage and refinancing risk common to large utility operators
CIG-C vs Peers
CEMIG operates in the global utilities landscape alongside several large infrastructure and energy companies.
AES is a US-based global power company with a diversified portfolio across multiple continents, offering broader geographic exposure than CEMIG's Brazil-focused operations.
Brookfield Infrastructure operates across utilities, transport, and data infrastructure globally, providing investors with a more diversified infrastructure profile than a single-country utility.
Canadian Utilities focuses on regulated electricity and natural gas in Canada and Australia, offering a lower-risk regulatory environment compared to CEMIG's Brazilian market exposure.
Frequently Asked Questions
What does Companhia Energética de Minas Gerais do?
CEMIG is an integrated Brazilian energy company engaged in generating, transmitting, distributing, and selling electricity. It also operates in natural gas distribution, energy trading, and has expanded into IT infrastructure, cloud computing, cybersecurity, and telecommunications services.
Does CIG-C pay dividends?
Yes, CEMIG pays a regular dividend. As a large regulated utility, it distributes a portion of profits to shareholders on a recurring basis. Investors should note that dividend amounts can be affected by Brazilian regulatory decisions and currency fluctuations.
When does CIG-C report earnings?
CEMIG reports on a quarterly cadence, standard for US-listed equities. For exact release dates and the most recent results, check the company's official investor relations page directly.
Is CIG-C a good stock to buy?
The UQS Score rates CIG-C as Below Average. While the Valuation pillar is rated Good, the Moat, Growth, and Risk pillars are all Weak. Whether it fits your portfolio depends on your risk tolerance and income objectives. View the full pillar breakdown on UQS Score for a complete picture.
Is CIG-C overvalued?
The UQS Valuation pillar for CIG-C is rated Good, suggesting the stock does not appear expensive relative to its fundamentals. This is one of the stronger aspects of the UQS profile, though it should be considered alongside the weaker Quality, Growth, and Risk ratings.
How does CIG-C compare to its competitors?
Compared to peers like AES, Brookfield Infrastructure, and Canadian Utilities, CEMIG is more concentrated in a single emerging market — Brazil. This creates unique regulatory and currency risks but also distinct income characteristics. The UQS platform provides side-by-side pillar comparisons for registered users.
What is CIG-C's market cap bracket?
CIG-C is classified as a large-cap stock, placing it among the more substantial publicly traded utilities in the emerging-market space. Large-cap utilities typically offer greater liquidity than smaller peers, though size alone does not determine quality or risk.
Who founded Companhia Energética de Minas Gerais?
CEMIG was incorporated in 1952 as a state-controlled energy company in Minas Gerais, Brazil. Founding context and historical ownership details are widely available through the company's official corporate history and public filings.
Is CIG-C a long-term quality investment?
As a long-term quality indicator, the UQS Score rates CIG-C as Below Average. The Weak Moat and Weak Growth pillars suggest limited durable competitive advantages and constrained expansion. Investors focused on long-term compounding may want to weigh these factors carefully against the Good Valuation rating.
What is the main competitive advantage of CEMIG?
CEMIG's primary advantage lies in its scale and concession-based operating model — owning extensive generation, transmission, and distribution infrastructure in Minas Gerais. However, the UQS Moat pillar rates this as Weak, reflecting the regulatory dependency and limited pricing power inherent in Brazilian utility concessions.
What sector does CIG-C belong to?
CIG-C belongs to the Utilities sector. Utilities are generally characterized by regulated revenues, capital-intensive infrastructure, and dividend-paying traditions. CEMIG adds an emerging-market dimension, given its operations are entirely within Brazil.
Is CIG-C a growth stock or value stock?
Based on the UQS pillar profile, CIG-C leans toward neither classic category cleanly. The Growth pillar is rated Weak, suggesting limited expansion momentum. The Valuation pillar is rated Good, which may appeal to value-oriented investors — though the overall Below Average UQS Score warrants careful review.
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Pro Analysis
CIG-C — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 14, 2026 | 46.3 | 54.9 | 39.0 | 14.5 | 37.9 | 94.7 | +0.1 |
| May 11, 2026 | 46.2 | 54.9 | 39.0 | 14.3 | 37.9 | 94.7 | -0.5 |
| May 10, 2026 | 46.7 | 58.5 | 39.0 | 14.3 | 37.9 | 92.1 | +2.4 |
| May 9, 2026 | 44.3 | 58.5 | 39.0 | 0.0 | 37.9 | 94.7 | -1.6 |
| May 8, 2026 | 45.9 | 58.6 | 39.0 | 11.2 | 37.9 | 90.6 | +0.4 |
| May 7, 2026 | 45.5 | 54.8 | 39.0 | 11.2 | 37.9 | 94.2 | -0.1 |
| Apr 28, 2026 | 45.6 | 54.7 | 39.0 | 11.1 | 37.9 | 94.9 | +0.1 |
| Apr 25, 2026 | 45.5 | 54.7 | 39.0 | 10.7 | 37.9 | 94.9 | +0.1 |
| Apr 24, 2026 | 45.4 | 54.5 | 39.0 | 10.7 | 37.9 | 94.5 | +0.1 |
| Apr 23, 2026 | 45.3 | 54.4 | 39.0 | 10.7 | 37.9 | 94.3 | 0.0 |
CIG-C — Pillar Breakdown
Quality
— 54.9/100 (25%)Companhia Energética de Minas Gerais has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 14.5/100 (20%)Companhia Energética de Minas Gerais faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 37.9/100 (15%)Companhia Energética de Minas Gerais has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 94.1/100 (15%)Companhia Energética de Minas Gerais appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
Enterprise value multiple relative to sector median.
Moat
— 39/100 (25%)Companhia Energética de Minas Gerais possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for CIG-C.
Score Composition
Financial Data
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How is the CIG-C UQS Score Calculated?
The UQS (Unified Quality Score) for Companhia Energética de Minas Gerais is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Companhia Energética de Minas Gerais's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Companhia Energética de Minas Gerais is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.