4. Companhia Energetica de Minas Gerais (CEMIG) ( CIG) engages in electricity generation, transmission and distribution. Operating through its subsidiaries Gasmig and Infovias, the company distributes natural gas and is a telecommunications service provider. CEMIG's power plants have total installed capacity of around 7,000MW --making it one of Brazil's top electricity generators. In distribution, CEMIG operates the largest electricity distribution network in the region, spanning across 300,000 miles. During 2011 first quarter, sales were 17,981 gigawatt hours, up 16% from the year-ago period. Net revenue and EBITDA for the first quarter rose 18% and 11%, respectively. Higher operational efficiency improved EBITDA margins. The stock has gained around 38% in the last one-year and is currently trading at 9.9 times its estimated 2011 earnings.