Zacks Investment Research upgraded shares of CMS Energy (NYSE:CMS) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. The firm currently has $50.00 price objective on the utilities provider’s stock.
According to Zacks, “CMS Energy's share price has outperformed the broader market in last one year. It'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. 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. CMS Energy has a large natural gas system in place and plans to expand it over the next decade. It also maintains a stable liquidity position, besides exhibiting a strong cash generating capacity. However, the company incurs significant costs related to the construction, operation, and closure of solid waste disposal facilities for coal ash.”
CMS has been the topic of a number of other research reports. KeyCorp restated a buy rating and issued a $51.50 target price on shares of CMS Energy in a research note on Friday, December 15th. Morgan Stanley restated an equal weight rating and issued a $52.00 target price on shares of CMS Energy in a research note on Wednesday, December 13th. TheStreet lowered shares of CMS Energy from a b rating to a c+ rating in a research note on Wednesday, February 14th. SunTrust Banks set a $46.00 target price on shares of CMS Energy and gave the company a hold rating in a research note on Monday, March 19th. Finally, Wells Fargo upgraded shares of CMS Energy from a market perform rating to an outperform rating in a research note on Monday, December 18th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. CMS Energy presently has a consensus rating of Buy and an average price target of $48.50.
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. sell-side analysts forecast that CMS Energy will post 2.33 earnings per share for the current year.
In related news, SVP Catherine M. Reynolds sold 8,310 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $43.40, for a total transaction of $360,654.00. Following the sale, the senior vice president now owns 126,810 shares in the company, valued at $5,503,554. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Zions Bancorporation increased its stake in shares of CMS Energy by 8,255.2% in the third quarter. Zions Bancorporation now owns 2,423 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 2,394 shares during the period. Cerebellum GP LLC acquired a new stake in shares of CMS Energy in the fourth quarter valued at approximately $122,000. Tower Research Capital LLC TRC increased its stake in shares of CMS Energy by 271.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 1,998 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of CMS Energy in the fourth quarter valued at approximately $213,000. Finally, Greenleaf Trust increased its stake in shares of CMS Energy by 1,746.0% in the fourth quarter. Greenleaf Trust now owns 4,652 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 4,400 shares during the period. Institutional investors own 88.31% of the company’s stock.
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About CMS Energy
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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