CMS Energy Corp. Expected to Post Q3 2016 Earnings of $0.60 Per Share (CMS)
CMS Energy Corp. (NYSE:CMS) – KeyCorp issued their Q3 2016 EPS estimates for shares of CMS Energy Corp. in a research note issued on Monday. KeyCorp analyst P. Ridzon expects that the brokerage will earn $0.60 per share for the quarter. KeyCorp has a “Outperform” rating and a $47.00 price objective on the stock. KeyCorp also issued estimates for CMS Energy Corp.’s FY2016 earnings at $2.02 EPS.
CMS Energy Corp. (NYSE:CMS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.09. The company earned $1.37 billion during the quarter, compared to analysts’ expectations of $1.49 billion. CMS Energy Corp. had a return on equity of 13.34% and a net margin of 8.79%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded CMS Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday. SunTrust Banks Inc. restated a “neutral” rating on shares of CMS Energy Corp. in a research note on Tuesday, August 2nd. Scotiabank began coverage on CMS Energy Corp. in a research note on Friday, July 15th. They issued a “sector perform” rating and a $46.00 price target on the stock. Howard Weil began coverage on CMS Energy Corp. in a research note on Friday, July 15th. They issued a “sector perform” rating and a $46.00 price target on the stock. Finally, BMO Capital Markets restated a “buy” rating on shares of CMS Energy Corp. in a research note on Friday, July 29th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given 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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Shares of CMS Energy Corp. (NYSE:CMS) traded down 0.10% on Wednesday, hitting $41.38. The company’s stock had a trading volume of 1,082,327 shares. The firm has a market cap of $11.55 billion, a price-to-earnings ratio of 21.21 and a beta of 0.12. The stock’s 50-day moving average price is $41.90 and its 200-day moving average price is $42.65. CMS Energy Corp. has a 52 week low of $33.84 and a 52 week high of $46.25.
Several hedge funds have recently added to or reduced their stakes in CMS. Exchange Capital Management Inc. bought a new stake in CMS Energy Corp. during the second quarter valued at about $109,000. Cable Hill Partners LLC raised its stake in CMS Energy Corp. by 2,307.7% in the second quarter. Cable Hill Partners LLC now owns 3,130 shares of the company’s stock valued at $143,000 after buying an additional 3,000 shares during the period. Point72 Asia Hong Kong Ltd raised its stake in CMS Energy Corp. by 540.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 3,200 shares of the company’s stock valued at $147,000 after buying an additional 2,700 shares during the period. Mizuho Asset Management Co. Ltd. raised its stake in CMS Energy Corp. by 150.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,877 shares of the company’s stock valued at $178,000 after buying an additional 2,331 shares during the period. Finally, Global X Management Co. LLC raised its stake in CMS Energy Corp. by 78.5% in the second quarter. Global X Management Co. LLC now owns 4,497 shares of the company’s stock valued at $206,000 after buying an additional 1,978 shares during the period. 89.09% of the stock is currently owned by institutional investors.
In other news, SVP Brian F. Rich sold 2,135 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $43.17, for a total transaction of $92,167.95. Following the sale, the senior vice president now directly owns 49,330 shares of the company’s stock, valued at approximately $2,129,576.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jon E. Barfield sold 9,568 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $42.97, for a total value of $411,136.96. Following the sale, the director now directly owns 23,256 shares in the company, valued at $999,310.32. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.
CMS Energy Corp. Company Profile
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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