Of the six analysts covering the stock, 83% rated a buy while the remaining advised a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg expect the stock to increase by an average 29.6% to $23.1 in the upcoming 12 months.
Dividend payout for 2010 was 77 cents per share. Early January, shareholders received a special dividend of 79 cents per share -- double that of ordinary dividend. Cemig, Brazil's top electricity distributor, is likely to benefit from the approximate 10% hike in electricity tariff in 2011, which analyst believe will remain stagnant until 2013, and rise by an additional 10% in 2014.On an average, analysts estimate Cemig's revenue to grow 10% to $7.5 billion and earnings per share by a huge 20%. The company's return on equity and assets are nearly double the industry average, thereby attracting investors.