Zacks Investment Research upgraded shares of CMS Energy (NYSE:CMS) from a sell rating to a hold rating in a research note released on Thursday morning.
According to Zacks, “CMS Energy ended 2017 on a mixed note. While its fourth-quarter earnings came in line with the Zacks Consensus Estimate, the top line figure surpassed the mark. Its 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. However, the company incurs significant costs related to the construction, operation, and closure of solid waste disposal facilities for coal ash. Moreover, it is relatively overvalued from a historic perspective as well as compared with its broader industry, in terms of P/E multiple.”
Several other equities research analysts have also recently weighed in on CMS. Bank of America started coverage on shares of CMS Energy in a research report on Tuesday, October 24th. They set a buy rating and a $52.00 price objective for the company. SunTrust Banks reiterated a hold rating and set a $46.00 price objective on shares of CMS Energy in a research report on Tuesday, December 26th. Wells Fargo & Co upgraded shares of CMS Energy from a market perform rating to an outperform rating in a research report on Monday, December 18th. Morgan Stanley reiterated an equal weight rating and set a $52.00 price objective on shares of CMS Energy in a research report on Wednesday, December 13th. Finally, Guggenheim reiterated a hold rating and set a $50.00 price objective on shares of CMS Energy in a research report on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. CMS Energy currently has an average rating of Buy and an average target price of $48.54.
CMS Energy (NYSE:CMS) opened at $44.20 on Thursday. The stock has a market cap of $12,482.96, a price-to-earnings ratio of 26.95, a PEG ratio of 2.96 and a beta of 0.09. CMS Energy has a 52 week low of $40.48 and a 52 week high of $50.85. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.59 and a current ratio of 0.89.
CMS Energy (NYSE:CMS) last released its quarterly earnings results on Wednesday, February 14th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.29 earnings per share. sell-side analysts forecast that CMS Energy will post 2.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th will be issued a $0.3575 dividend. This represents a $1.43 dividend on an annualized basis and a yield of 3.24%. This is a boost from CMS Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, February 15th. CMS Energy’s dividend payout ratio (DPR) is presently 87.20%.
In other CMS Energy news, insider David G. Mengebier sold 2,500 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $49.48, for a total value of $123,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in CMS Energy by 39.2% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 19,174 shares of the utilities provider’s stock worth $907,000 after purchasing an additional 5,400 shares during the period. Brookfield Asset Management Inc. grew its holdings in CMS Energy by 56.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 1,534,959 shares of the utilities provider’s stock worth $72,604,000 after purchasing an additional 555,100 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of CMS Energy during the fourth quarter valued at about $4,127,000. Magellan Asset Management Ltd grew its holdings in shares of CMS Energy by 1.0% during the fourth quarter. Magellan Asset Management Ltd now owns 190,282 shares of the utilities provider’s stock valued at $9,000,000 after buying an additional 1,937 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of CMS Energy by 3.4% during the fourth quarter. Macquarie Group Ltd. now owns 265,234 shares of the utilities provider’s stock valued at $12,259,000 after buying an additional 8,717 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.
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CMS Energy Company Profile
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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