CMS Energy (CMS) Upgraded to “Outperform” at Wells Fargo & Company

CMS Energy (NYSE:CMS) was upgraded by equities researchers at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a research note issued on Monday, The Fly reports.

A number of other brokerages have also weighed in on CMS. Zacks Investment Research lowered CMS Energy from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Morgan Stanley raised their price objective on CMS Energy from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. KeyCorp restated a “buy” rating and issued a $51.00 price objective on shares of CMS Energy in a report on Friday, September 1st. Bank of America started coverage on CMS Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Royal Bank of Canada restated a “hold” rating and issued a $46.00 price objective on shares of CMS Energy in a report on Monday, September 11th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $49.15.

Shares of CMS Energy (CMS) traded up $0.18 during midday trading on Monday, hitting $49.25. 2,696,400 shares of the stock were exchanged, compared to its average volume of 1,839,576. The firm has a market cap of $13,889.14, a PE ratio of 25.26, a price-to-earnings-growth ratio of 3.51 and a beta of 0.19. CMS Energy has a twelve month low of $40.93 and a twelve month high of $50.85. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 1.99.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. CMS Energy had a net margin of 8.38% and a return on equity of 12.30%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company earned $0.70 EPS. The business’s revenue was down 3.8% on a year-over-year basis. equities analysts forecast that CMS Energy will post 2.17 EPS for the current year.

In other CMS Energy news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of CMS Energy stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $48.02, for a total value of $48,020.00. Following the completion of the transaction, the insider now directly owns 28,176 shares of the company’s stock, valued at approximately $1,353,011.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David G. Mengebier sold 2,500 shares of CMS Energy stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $49.48, for a total value of $123,700.00. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation grew its position in shares of CMS Energy by 8,255.2% during the third quarter. Zions Bancorporation now owns 2,423 shares of the utilities provider’s stock worth $112,000 after buying an additional 2,394 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in CMS Energy 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 purchasing an additional 438 shares in the last quarter. IBM Retirement Fund acquired a new position in CMS Energy in the third quarter valued at approximately $205,000. Campbell & CO Investment Adviser LLC acquired a new position in CMS Energy in the third quarter valued at approximately $216,000. Finally, Colony Group LLC acquired a new position in CMS Energy in the second quarter valued at approximately $217,000. 87.42% of the stock is owned by institutional investors.

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CMS Energy 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.

The Fly

Analyst Recommendations for CMS Energy (NYSE:CMS)