CMS Energy Corporation (NYSE:CMS)‘s stock had its “buy” rating reaffirmed by analysts at KeyCorp in a research report issued on Friday, September 1st. They currently have a $51.00 price target on the utilities provider’s stock. KeyCorp’s target price would indicate a potential upside of 6.54% from the stock’s current price.
Other research analysts have also issued research reports about the stock. Morgan Stanley began coverage on shares of CMS Energy Corporation in a research report on Monday, July 31st. They set an “equal weight” rating and a $47.00 target price on the stock. Credit Suisse Group upgraded shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $46.00 to $50.00 in a research report on Monday, July 24th. BidaskClub upgraded shares of CMS Energy Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $48.00 price target on shares of CMS Energy Corporation in a research report on Monday, July 31st. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $48.20.
CMS Energy Corporation (NYSE CMS) opened at 47.87 on Friday. The stock has a market capitalization of $13.48 billion, a P/E ratio of 24.18 and a beta of 0.17. CMS Energy Corporation has a 52 week low of $38.78 and a 52 week high of $49.11. The firm has a 50 day moving average price of $47.86 and a 200 day moving average price of $46.33.
CMS Energy Corporation (NYSE:CMS) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.08). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.36 billion. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. Equities research analysts predict that CMS Energy Corporation will post $2.17 earnings per share for the current year.
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In other news, Director Jon E. Barfield sold 6,336 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total transaction of $296,588.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Garrick J. Rochow sold 2,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $47.81, for a total transaction of $95,620.00. Following the sale, the insider now owns 64,307 shares of the company’s stock, valued at $3,074,517.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,836 shares of company stock valued at $561,118. 0.65% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Brookfield Asset Management Inc. grew its holdings in CMS Energy Corporation by 25,046.4% in the second quarter. Brookfield Asset Management Inc. now owns 894,959 shares of the utilities provider’s stock worth $41,392,000 after purchasing an additional 891,400 shares during the period. Achmea Investment Management B.V. acquired a new stake in CMS Energy Corporation in the second quarter worth $229,000. Lord Abbett & CO. LLC grew its holdings in CMS Energy Corporation by 4.8% in the second quarter. Lord Abbett & CO. LLC now owns 1,984,047 shares of the utilities provider’s stock worth $91,762,000 after purchasing an additional 90,621 shares during the period. Sentry Investment Management LLC grew its holdings in shares of CMS Energy Corporation by 0.9% during the second quarter. Sentry Investment Management LLC now owns 21,980 shares of the utilities provider’s stock valued at $1,017,000 after buying an additional 201 shares during the last quarter. Finally, Archford Capital Strategies LLC grew its holdings in shares of CMS Energy Corporation by 62.0% during the second quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock valued at $122,000 after buying an additional 438 shares during the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.
About CMS Energy Corporation
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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