CMS Energy (NYSE:CMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $49.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.85% from the stock’s current price.
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 analysts have also recently weighed in on CMS. SunTrust Banks set a $46.00 price target on shares of CMS Energy and gave the company a “hold” rating in a research note on Monday. Morgan Stanley dropped their price target on shares of CMS Energy from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, March 8th. TheStreet cut shares of CMS Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 14th. Wells Fargo dropped their price target on shares of CMS Energy from $55.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, UBS initiated coverage on shares of CMS Energy in a report on Friday, February 2nd. They issued a “neutral” rating and a $49.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. CMS Energy presently has a consensus rating of “Buy” and a consensus price target of $48.50.
Shares of CMS Energy (NYSE CMS) opened at $43.81 on Tuesday. CMS Energy has a one year low of $40.48 and a one year high of $50.85. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 2.06. The firm has a market cap of $12,420.85, a P/E ratio of 26.71, a PEG ratio of 2.98 and a beta of 0.14.
CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Wednesday, February 14th. The utilities provider reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. CMS Energy had a net margin of 6.99% and a return on equity of 13.60%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. sell-side analysts forecast 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 stock in a transaction that occurred on 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 directly owns 126,810 shares in the company, valued at approximately $5,503,554. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.65% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CMS. Zions Bancorporation lifted its holdings in CMS Energy by 8,255.2% during the 3rd quarter. Zions Bancorporation now owns 2,423 shares of the utilities provider’s stock worth $112,000 after buying an additional 2,394 shares in the last quarter. Cerebellum GP LLC acquired a new stake in CMS Energy during the 4th quarter worth approximately $122,000. Tower Research Capital LLC TRC lifted its holdings in CMS Energy by 271.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock worth $129,000 after buying an additional 1,998 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in CMS Energy during the 4th quarter worth approximately $213,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in CMS Energy during the 3rd quarter worth approximately $216,000. Institutional investors own 88.29% 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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