CMS Energy Corp. (CMS) Upgraded by Zacks Investment Research to Strong-Buy
CMS Energy Corp. (NYSE:CMS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $48.00 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 15.89% from the company’s previous close.
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.”
Several other research firms also recently weighed in on CMS. Scotiabank started coverage on CMS Energy Corp. in a report on Friday, July 15th. They set a “sector perform” rating and a $46.00 price objective on the stock. SunTrust Banks Inc. cut their price objective on CMS Energy Corp. from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 29th. KeyCorp reissued an “outperform” rating and set a $47.00 price objective (up previously from $45.00) on shares of CMS Energy Corp. in a report on Saturday, July 2nd. Howard Weil started coverage on CMS Energy Corp. in a report on Friday, July 15th. They set a “sector perform” rating and a $46.00 price objective on the stock. Finally, BMO Capital Markets reissued a “buy” rating on shares of CMS Energy Corp. in a report on Friday, July 29th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.75.
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CMS Energy Corp. (NYSE:CMS) traded down 0.58% on Wednesday, reaching $41.18. The company’s stock had a trading volume of 189,436 shares. The firm’s 50-day moving average price is $41.90 and its 200-day moving average price is $42.65. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of 21.11 and a beta of 0.12. CMS Energy Corp. has a 52-week low of $33.84 and a 52-week high of $46.25.
CMS Energy Corp. (NYSE:CMS) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09. CMS Energy Corp. had a return on equity of 13.34% and a net margin of 8.79%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business posted $0.25 EPS. CMS Energy Corp.’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts expect that CMS Energy Corp. will post $2.02 earnings per share for the current year.
In other news, Director Jon E. Barfield sold 9,568 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $42.97, for a total value of $411,136.96. Following the completion of the sale, the director now directly owns 23,256 shares in the company, valued at approximately $999,310.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Brian F. Rich sold 2,135 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,129,576.10. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of CMS. Barclays PLC increased its stake in shares of CMS Energy Corp. by 117.5% in the first quarter. Barclays PLC now owns 311,595 shares of the company’s stock valued at $13,085,000 after buying an additional 168,308 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of CMS Energy Corp. during the first quarter valued at approximately $3,727,000. National Pension Service increased its stake in shares of CMS Energy Corp. by 4.4% in the first quarter. National Pension Service now owns 196,577 shares of the company’s stock valued at $8,343,000 after buying an additional 8,353 shares in the last quarter. Hancock Holding Co. increased its stake in shares of CMS Energy Corp. by 2.5% in the first quarter. Hancock Holding Co. now owns 23,585 shares of the company’s stock valued at $1,001,000 after buying an additional 585 shares in the last quarter. Finally, Prudential PLC increased its stake in shares of CMS Energy Corp. by 52.6% in the first quarter. Prudential PLC now owns 20,300 shares of the company’s stock valued at $862,000 after buying an additional 7,000 shares in 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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