CMS Energy Corporation (CMS) Rating Increased to Buy at BidaskClub
CMS Energy Corporation (NYSE:CMS) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
CMS has been the subject of several other research reports. Morgan Stanley assumed coverage on shares of CMS Energy Corporation in a report on Monday, July 31st. They issued an “equal weight” rating and a $47.00 price target for the company. Credit Suisse Group raised shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $46.00 to $50.00 in a report on Monday, July 24th. BMO Capital Markets reissued a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a report on Tuesday, May 2nd. Finally, Barclays PLC reissued an “equal weight” rating and issued a $49.00 price target (up previously from $44.00) on shares of CMS Energy Corporation in a report on Sunday, April 23rd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. CMS Energy Corporation has a consensus rating of “Buy” and an average price target of $47.75.
Shares of CMS Energy Corporation (CMS) traded up 0.77% during trading on Friday, hitting $48.21. 3,358,407 shares of the company were exchanged. The firm has a market capitalization of $13.57 billion, a PE ratio of 24.35 and a beta of 0.16. The firm’s 50-day moving average price is $46.63 and its 200 day moving average price is $45.62. CMS Energy Corporation has a 12 month low of $38.78 and a 12 month high of $48.50.
CMS Energy Corporation (NYSE:CMS) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.41 by $0.08. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.36 billion. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. CMS Energy Corporation’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. On average, equities research analysts expect that CMS Energy Corporation will post $2.17 earnings per share for the current fiscal year.
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In other CMS Energy Corporation news, insider Daniel J. Malone sold 10,000 shares of CMS Energy Corporation stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $47.42, for a total transaction of $474,200.00. Following the sale, the insider now owns 148,622 shares of the company’s stock, valued at approximately $7,047,655.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Thomas J. Webb sold 50,000 shares of CMS Energy Corporation stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $47.23, for a total transaction of $2,361,500.00. Following the sale, the insider now directly owns 187,773 shares in the company, valued at approximately $8,868,518.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,336 shares of company stock worth $3,132,288. 0.65% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of CMS Energy Corporation by 18.0% in the first quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock valued at $108,000 after buying an additional 370 shares during the period. Archford Capital Strategies LLC boosted its stake in shares of CMS Energy Corporation by 62.0% in 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 period. Brookfield Asset Management Inc. acquired a new stake in shares of CMS Energy Corporation during the first quarter valued at about $159,000. Meeder Asset Management Inc. acquired a new stake in shares of CMS Energy Corporation during the second quarter valued at about $185,000. Finally, Laurion Capital Management LP acquired a new stake in shares of CMS Energy Corporation during the first quarter valued at about $201,000. 85.93% of the stock is currently owned by institutional investors.
CMS Energy Corporation 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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