CMIG3:BMFBOVESPACompanhia Energetica de Minas Gerais SA Analysis
Data as of 2026-03-16 - not real-time
R$15.50
Latest Price
5/10Risk
Risk Level: Medium
Executive Summary
The stock is trading above its intrinsic estimate, indicating potential overvaluation despite a low price‑to‑earnings multiple relative to peers and an exceptionally high dividend yield. Technical indicators show a bullish overall trend but a bearish MACD divergence and declining volume, suggesting short‑term pressure near the identified resistance level.
Fundamentally, the company benefits from regulated utility revenues, solid operating margins and a strong dividend policy, yet free cash flow is negative and debt levels are moderate, raising questions about dividend sustainability and long‑term cash generation.
Fundamentally, the company benefits from regulated utility revenues, solid operating margins and a strong dividend policy, yet free cash flow is negative and debt levels are moderate, raising questions about dividend sustainability and long‑term cash generation.
Market Outlook
Short Term
< 1 yearNeutral
Model confidence: 6/10
Key Factors
- bearish MACD histogram
- price approaching resistance
- decreasing trading volume
Medium Term
1–3 yearsPositive
Model confidence: 7/10
Key Factors
- attractive dividend yield
- low beta and defensive sector
- stable regulated revenue stream
Long Term
> 3 yearsNeutral
Model confidence: 6/10
Key Factors
- long‑term regulated cash flows
- persistent dividend policy
- exposure to Brazil macro‑economic and currency dynamics
Key Metrics & Analysis
Financial Health
Revenue Growth4.60%
Profit Margin9.47%
P/E Ratio6.8
ROE14.16%
ROA5.61%
Debt/Equity55.11
P/B Ratio1.5
Op. Cash FlowR$4.3B
Free Cash FlowR$-2693186048
Industry P/E23.3
Technical Analysis
TrendBullish
RSI53.9
SupportR$0.00
ResistanceR$16.06
MA 20R$15.46
MA 50R$15.03
MA 200R$14.83
MACDBearish
VolumeDecreasing
Fear & Greed Index74.91
Valuation
Fair ValueR$12.64
GradeOvervalued
TypeValue
Dividend Yield10.65%
Risk Assessment
Beta0.20
Volatility23.63%
Sector RiskLow
Reg. RiskMedium
Geo RiskMedium
Currency RiskMedium
Liquidity RiskMedium
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This analysis may contain inaccuracies and is provided for informational and research purposes only. It is not personal investment advice, a recommendation, or an instruction to buy, sell, or hold any asset.