Zacks Investment Research upgraded shares of CMS Energy (NYSE:CMS) from a hold rating to a buy rating in a research note issued to investors on Friday. They currently have $55.00 price objective on the utilities provider’s stock.
According to Zacks, “CMS Energy's regulated electric power operations in Michigan generate a relatively stable and growing earnings stream. In last one year shares of the company have gained against its industry's decline. The company boasts a solid capital expenditure program to boost its infrastructural upgrades. It is currently focused on capacity maximization, reliability improvement, clean power generation and infrastructure upgrade. Moreover, CMS Energy boasts a solid capital expenditure program. However, the company incurs significant costs related to the construction, operation, and closure of solid waste disposal facilities for coal ash. Also, an adverse decisions in regulatory cases may negatively impact CMS Energy’s earnings.”
CMS has been the subject of a number of other reports. Morgan Stanley boosted their price objective on shares of CMS Energy from $45.00 to $49.00 and gave the stock an equal weight rating in a report on Monday, July 16th. Argus upgraded shares of CMS Energy from a hold rating to a buy rating in a report on Monday, September 10th. Wells Fargo & Co boosted their price objective on shares of CMS Energy from $53.00 to $55.00 and gave the stock an outperform rating in a report on Monday, September 17th. Citigroup boosted their price objective on shares of CMS Energy from $49.00 to $51.00 and gave the stock a hold rating in a report on Tuesday, October 2nd. Finally, Howard Weil restated a sector outperform rating on shares of CMS Energy in a report on Tuesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $51.40.
CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, July 26th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. CMS Energy had a net margin of 8.13% and a return on equity of 15.14%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business posted $0.33 earnings per share. CMS Energy’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that CMS Energy will post 2.34 earnings per share for the current year.
In related news, Director Jon E. Barfield sold 2,861 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $48.45, for a total transaction of $138,615.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $48.77, for a total transaction of $48,770.00. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
A number of large investors have recently bought and sold shares of CMS. Bank of New York Mellon Corp raised its holdings in CMS Energy by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,906,647 shares of the utilities provider’s stock valued at $704,787,000 after buying an additional 2,030,430 shares during the last quarter. Scout Investments Inc. raised its holdings in CMS Energy by 2,602.1% during the 2nd quarter. Scout Investments Inc. now owns 1,360,227 shares of the utilities provider’s stock valued at $64,312,000 after buying an additional 1,309,887 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in CMS Energy during the 2nd quarter valued at $47,873,000. Carillon Tower Advisers Inc. raised its holdings in CMS Energy by 2,838.0% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 874,775 shares of the utilities provider’s stock valued at $41,359,000 after buying an additional 845,000 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in CMS Energy by 96.1% during the 2nd quarter. Millennium Management LLC now owns 1,612,272 shares of the utilities provider’s stock valued at $76,228,000 after buying an additional 790,201 shares during the last quarter. Institutional investors own 89.63% of the company’s stock.
CMS Energy Company Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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