CMS Energy Corporation (CMS) Lowered to “Sell” at Zacks Investment Research
CMS Energy Corporation (NYSE:CMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “Increasing stringency of global environmental regulations on curbing carbon emissions during electricity generation remains a major concern for CMS Energy. Additionally, an upward movement in fuel prices may potentially increase the company’s cost of operations. Unexpected weather conditions may result in reduced utility usage, thereby affecting CMS Energy’s financial performance. Moreover, the company underperformed its broader industry in the past three months. Nevertheless, the company’s focus on strengthening circuits and substations, replacing aging poles and installing smart meters buoys optimism.”
Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of CMS Energy Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. BMO Capital Markets reiterated a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a research report on Monday, July 31st. KeyCorp reiterated a “buy” rating and issued a $51.00 price target on shares of CMS Energy Corporation in a research report on Friday, September 1st. Morgan Stanley lifted their price target on shares of CMS Energy Corporation from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $47.00 price target on shares of CMS Energy Corporation in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. CMS Energy Corporation has a consensus rating of “Hold” and an average target price of $48.56.
CMS Energy Corporation (CMS) traded down 0.262% during trading on Friday, reaching $47.595. The company’s stock had a trading volume of 388,973 shares. The firm’s 50-day moving average is $47.51 and its 200-day moving average is $46.65. CMS Energy Corporation has a 52-week low of $38.78 and a 52-week high of $49.11. The stock has a market cap of $13.40 billion, a P/E ratio of 24.038 and a beta of 0.15.
CMS Energy Corporation (NYSE:CMS) last released its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts forecast that CMS Energy Corporation will post $2.17 EPS for the current year.
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In other CMS Energy Corporation news, Director Jon E. Barfield sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total transaction of $296,588.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Garrick J. Rochow sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $47.81, for a total transaction of $95,620.00. Following the transaction, the insider now owns 64,307 shares of the company’s stock, valued at $3,074,517.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,836 shares of company stock valued at $561,118. Company insiders own 0.65% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of CMS Energy Corporation by 18.0% during the first quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock worth $108,000 after buying an additional 370 shares during the last quarter. Archford Capital Strategies LLC grew its stake in shares of CMS Energy Corporation by 62.0% during the second quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock worth $122,000 after buying an additional 438 shares during the last quarter. Brookfield Asset Management Inc. bought a new stake in shares of CMS Energy Corporation during the first quarter worth $159,000. Meeder Asset Management Inc. bought a new stake in shares of CMS Energy Corporation during the second quarter worth $185,000. Finally, Laurion Capital Management LP bought a new stake in shares of CMS Energy Corporation during the first quarter worth $201,000. Institutional investors and hedge funds own 87.37% of the company’s stock.
About CMS Energy Corporation
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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