CMS Energy Corporation (CMS) Receives Hold Rating from SunTrust Banks, Inc.
CMS Energy Corporation (NYSE:CMS)‘s stock had its “hold” rating restated by equities research analysts at SunTrust Banks, Inc. in a report released on Wednesday. They presently have a $47.00 price objective on the utilities provider’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 1.10% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. Credit Suisse Group raised CMS Energy Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $46.00 to $50.00 in a report on Monday, July 24th. Morgan Stanley set a $49.00 target price on CMS Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $46.00 target price on shares of CMS Energy Corporation in a report on Monday, September 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $48.00 target price on shares of CMS Energy Corporation in a report on Monday, July 31st. Finally, BidaskClub raised CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. CMS Energy Corporation currently has a consensus rating of “Buy” and a consensus price target of $48.50.
Shares of CMS Energy Corporation (NYSE CMS) traded up 1.13% during mid-day trading on Wednesday, reaching $46.49. The company had a trading volume of 2,030,406 shares. The firm’s 50-day moving average price is $47.77 and its 200 day moving average price is $46.58. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 23.48 and a beta of 0.15. CMS Energy Corporation has a 52-week low of $38.78 and a 52-week high of $49.11.
CMS Energy Corporation (NYSE:CMS) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). CMS Energy Corporation had a return on equity of 12.98% and a net margin of 8.52%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company earned $0.45 EPS. CMS Energy Corporation’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts expect that CMS Energy Corporation will post $2.17 EPS for the current year.
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In other news, insider Garrick J. Rochow sold 2,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $47.81, for a total value of $95,620.00. Following the completion of the sale, the insider now owns 64,307 shares of the company’s stock, valued at $3,074,517.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Brian F. Rich sold 3,500 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $48.26, for a total value of $168,910.00. Following the completion of the sale, the senior vice president now directly owns 44,835 shares of the company’s stock, valued at approximately $2,163,737.10. The disclosure for this sale can be found here. In the last three months, insiders sold 11,836 shares of company stock valued at $561,118. Insiders own 0.65% of the company’s stock.
Several hedge funds have recently modified their holdings of CMS. Van ECK Associates Corp increased 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 increased 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 in the first quarter valued at about $159,000. Meeder Asset Management Inc. acquired a new stake in shares of CMS Energy Corporation in the second quarter valued at about $185,000. Finally, Laurion Capital Management LP acquired a new stake in shares of CMS Energy Corporation in the first quarter valued at about $201,000. 87.37% of the stock is 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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