CMS Energy Corp. (NYSE:CMS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The brokerage currently has a $48.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 15.89% from the company’s current price.
According to Zacks, “CMS Energy’s focus on strengthening circuits and substations, replacing aging poles and installing smart meters; in the electric utility space buoys optimism. The company’s investments in infrastructure development, replacement of aged infrastructure and application of smart technologies will enable it to provide reliable services to customers. The company's sustained efforts to expand its renewable portfolio are also impressive. However, stringent environmental regulations, volatile commodity prices and risks related to impending regulatory cases could deter growth. Moreover, weather variations tend to impact the demand for electricity and natural gas, thereby leading to a fluctuating performance.”
CMS has been the subject of several other reports. SunTrust Banks Inc. increased their price objective on shares of CMS Energy Corp. from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, September 26th. BMO Capital Markets reiterated a “buy” rating on shares of CMS Energy Corp. in a report on Friday, July 29th. KeyCorp reiterated an “outperform” rating and issued a $47.00 price objective (up from $45.00) on shares of CMS Energy Corp. in a report on Saturday, July 2nd. Scotiabank started coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They issued a “sector perform” rating and a $46.00 price objective for the company. Finally, Howard Weil assumed coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They issued a “sector perform” rating and a $46.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. CMS Energy Corp. has a consensus rating of “Buy” and a consensus price target of $43.75.
Shares of CMS Energy Corp. (NYSE:CMS) opened at 41.42 on Wednesday. The firm has a 50-day moving average price of $41.90 and a 200-day moving average price of $42.65. CMS Energy Corp. has a one year low of $33.84 and a one year high of $46.25. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 21.23 and a beta of 0.12.
CMS Energy Corp. (NYSE:CMS) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. The business earned $1.37 billion during the quarter, compared to analysts’ expectations of $1.49 billion. CMS Energy Corp. had a net margin of 8.79% and a return on equity of 13.34%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Analysts anticipate that CMS Energy Corp. will post $2.02 earnings per share for the current fiscal year.
In other CMS Energy Corp. news, SVP Brian F. Rich sold 2,135 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $43.17, for a total value of $92,167.95. Following the completion of the sale, the senior vice president now owns 49,330 shares in the company, valued at approximately $2,129,576.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Catherine M. Reynolds sold 11,032 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $43.59, for a total transaction of $480,884.88. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Exchange Capital Management Inc. bought a new stake in CMS Energy Corp. during the second quarter worth about $109,000. Cable Hill Partners LLC increased its stake in CMS Energy Corp. by 2,307.7% in the second quarter. Cable Hill Partners LLC now owns 3,130 shares of the company’s stock worth $143,000 after buying an additional 3,000 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its stake in CMS Energy Corp. by 540.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 3,200 shares of the company’s stock worth $147,000 after buying an additional 2,700 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in CMS Energy Corp. by 150.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,877 shares of the company’s stock worth $178,000 after buying an additional 2,331 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in CMS Energy Corp. by 78.5% in the second quarter. Global X Management Co. LLC now owns 4,497 shares of the company’s stock worth $206,000 after buying an additional 1,978 shares during the last quarter. Institutional investors own 89.09% of the company’s stock.
About CMS Energy Corp.
CMS Energy Corporation (CMS Energy) is an energy company operating primarily in Michigan. The Company operates in three segments, which include Consumers Electric Utility, Consumers Gas Utility and Enterprises (non-utility operations and investments). CMS Energy, through its subsidiaries and equity investments, is engaged primarily in independent power production and owns power generation facilities fueled by natural gas and biomass.
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