CMS Energy (NYSE:CMS) had its target price lifted by equities research analysts at Morgan Stanley from $56.00 to $57.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 1.17% from the company’s previous close.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Credit Suisse Group set a $58.00 price target on shares of CMS Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Bank of America upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, April 11th. SunTrust Banks restated a “hold” rating and set a $56.00 price target on shares of CMS Energy in a report on Monday, February 25th. Finally, Argus increased their price objective on shares of CMS Energy from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 22nd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.31.
Shares of NYSE CMS traded up $0.49 during midday trading on Thursday, reaching $56.34. 27,118 shares of the stock were exchanged, compared to its average volume of 2,248,048. The company has a market capitalization of $16.02 billion, a P/E ratio of 24.16, a P/E/G ratio of 3.54 and a beta of 0.18. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.13 and a quick ratio of 0.92. CMS Energy has a twelve month low of $42.52 and a twelve month high of $56.54.
CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.96 billion. CMS Energy had a return on equity of 13.16% and a net margin of 9.01%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, research analysts expect that CMS Energy will post 2.5 EPS for the current year.
In other CMS Energy news, VP Glenn P. Barba sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $54.95, for a total value of $467,075.00. Following the completion of the transaction, the vice president now owns 28,555 shares of the company’s stock, valued at approximately $1,569,097.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John G. Russell sold 16,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $55.35, for a total transaction of $929,880.00. Following the completion of the transaction, the director now directly owns 299,196 shares of the company’s stock, valued at approximately $16,560,498.60. The disclosure for this sale can be found here. Insiders have sold a total of 31,503 shares of company stock valued at $1,735,825 in the last ninety days. 0.52% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CMS. Reilly Financial Advisors LLC purchased a new position in CMS Energy in the 4th quarter valued at approximately $25,000. Clean Yield Group purchased a new stake in shares of CMS Energy during the 4th quarter worth $27,000. Cranbrook Wealth Management LLC purchased a new stake in shares of CMS Energy during the 4th quarter worth $30,000. Oregon Public Employees Retirement Fund lifted its position in shares of CMS Energy by 4,803.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,513,878 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 1,483,006 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new stake in shares of CMS Energy during the 4th quarter worth $31,000. 92.85% of the stock is owned by institutional investors.
CMS Energy Company Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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