Cemig (ADR) (CIG)
Operating Minas Gerais electricity networks alongside gas distribution and investments.
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Electricity generation, transmission, trading and distribution sit alongside gas distribution and investee holdings. The Minas Gerais-centered group operates through distinct generation-transmission and distribution subsidiaries under state control.
Generation, transmission, trading and distribution form the core of a Minas Gerais electricity group, complemented by natural-gas distribution and investee holdings. Operations sit within a holding-and-subsidiary structure in which Cemig GT handles generation and transmission and Cemig D handles distribution.
Built around a historic regional grid, the business extends beyond its home state through investments, while its operating model remains centered on Minas Gerais. Asset sales and acquisitions document a continuing portfolio-recycling cycle.
The State of Minas Gerais controls the voting share base and can elect most senior management and influence strategic orientation. Legal and regulatory requirements shaped the separation of generation and transmission from distribution.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
No analyst notes in the last 24 months.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $602.5M · Total debt $4.45B · Total assets $13.85B · Shareholders' equity $5.70B
- Revenue
- $2.18B
- Operating income
- $371.3M
- Net income
- $184.7M
Reported in BRL, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | ≈ 5.03% | 143.84M ADS | |
|---|---|---|---|
| 208 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Other | ≈ 94.97% | 2.72B ADS | |
| remainder | |||
2.86B ADS (1 ADS = 0 ordinary shares) as of Aug 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 0.80% | 22.81M ADS | as of Jun 30, 2026 |
State Street CorpInstitution | 0.58% | 16.65M ADS | as of Jun 30, 2026 |
Goldman Sachs Group IncInstitution | 0.42% | 12.00M ADS | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 0.37% | 10.52M ADS | as of Jun 30, 2026 |
TSP Capital Management Group, LLCInstitution | 0.32% | 9.12M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- AXIA Energia (ADR)
Brazil-scale generation and transmission competitor
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cemig (ADR) | $2.16 | +0.23% | $6.15B | 6.8 | 13.6 | 0.7 | +6.8% |
| AXIA Energia (ADR) | $10.22 | −2.39% | $23.29B | 9.9 | 13.8 | 2.7 | +12.6% |
| Median | 9.9 | 13.8 | 2.7 | +12.6% |