CMS Energy (NYSE:CMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, March 20th. The firm presently has a $49.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.46% from the company’s previous close.
According to Zacks, “CMS Energy's share price has outperformed the broader market in last one year. The company’s regulated electric power operations in Michigan generate a relatively stable and growing earnings stream. The company boasts a solid capital expenditure program to boost its infrastructural upgrades. We also appreciate CMS Energy’s sustained efforts to expand its renewable portfolio. It is currently focused on capacity maximization, reliability improvement, clean power generation and infrastructure upgrade. Under the electric utility operations, CMS Energy focuses on strengthening circuits and substations, replacing aging poles and installing smart meters. Besides investing in infrastructure projects, a favorable financial position enables CMS Energy to pay dividends at regular intervals. However, the company incurs significant costs related to the construction, operation, and closure of solid waste disposal facilities for coal ash.”
Several other research analysts have also recently commented on CMS. Morgan Stanley restated an “equal weight” rating and issued a $52.00 target price on shares of CMS Energy in a research report on Wednesday, December 13th. KeyCorp reiterated a “buy” rating and issued a $51.50 price objective on shares of CMS Energy in a report on Friday, December 15th. Wells Fargo upgraded shares of CMS Energy from a “market perform” rating to an “outperform” rating in a report on Monday, December 18th. SunTrust Banks restated a “hold” rating and set a $46.00 target price on shares of CMS Energy in a report on Tuesday, December 26th. Finally, Guggenheim restated a “hold” rating and set a $50.00 target price on shares of CMS Energy in a report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $48.54.
NYSE:CMS traded down $0.59 on Tuesday, reaching $43.96. The stock had a trading volume of 3,344,124 shares, compared to its average volume of 3,109,089. The stock has a market cap of $12,604.42, a P/E ratio of 20.26, a PEG ratio of 3.03 and a beta of 0.07. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.89 and a quick ratio of 0.65. CMS Energy has a 12-month low of $40.48 and a 12-month high of $50.85.
CMS Energy (NYSE:CMS) last issued its earnings results on Wednesday, February 14th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a net margin of 6.99% and a return on equity of 13.60%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 EPS. equities analysts expect that CMS Energy will post 2.33 earnings per share for the current year.
In other CMS Energy news, SVP Catherine M. Reynolds sold 8,310 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $43.40, for a total value of $360,654.00. Following the sale, the senior vice president now directly owns 126,810 shares in the company, valued at approximately $5,503,554. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in CMS Energy by 3.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 39,061 shares of the utilities provider’s stock valued at $1,809,000 after purchasing an additional 1,210 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in CMS Energy by 2.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,831 shares of the utilities provider’s stock valued at $2,632,000 after purchasing an additional 1,252 shares during the last quarter. Ibex Wealth Advisors lifted its holdings in CMS Energy by 9.0% during the 4th quarter. Ibex Wealth Advisors now owns 15,404 shares of the utilities provider’s stock valued at $713,000 after purchasing an additional 1,271 shares during the last quarter. Cognios Capital LLC lifted its holdings in CMS Energy by 31.6% during the 4th quarter. Cognios Capital LLC now owns 5,750 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in CMS Energy by 4.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 36,855 shares of the utilities provider’s stock valued at $1,743,000 after purchasing an additional 1,420 shares during the last quarter. 88.31% of the stock is owned by institutional investors.
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CMS Energy Company Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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