CMS Energy (CMS) Rating Reiterated by Morgan Stanley
CMS Energy (NYSE:CMS)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday. They presently have a $52.00 price objective on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 5.97% from the company’s previous close.
Other analysts have also issued research reports about the company. Royal Bank of Canada restated a “hold” rating and issued a $46.00 target price on shares of CMS Energy in a report on Monday, September 11th. KeyCorp restated a “buy” rating and issued a $51.00 target price on shares of CMS Energy in a report on Friday, October 20th. BidaskClub upgraded CMS Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded CMS Energy from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Finally, SunTrust Banks restated a “hold” rating and issued a $47.00 target price on shares of CMS Energy in a report on Wednesday, October 4th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $49.15.
CMS Energy (NYSE:CMS) traded down $0.18 on Wednesday, hitting $49.07. The stock had a trading volume of 1,250,900 shares, compared to its average volume of 1,836,021. The company has a market cap of $13,889.13, a price-to-earnings ratio of 25.26, a PEG ratio of 3.51 and a beta of 0.19. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 1.99. CMS Energy has a 1-year low of $40.39 and a 1-year high of $50.85.
CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.60 billion. CMS Energy had a return on equity of 12.30% and a net margin of 8.38%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. equities research analysts expect that CMS Energy will post 2.17 EPS for the current fiscal year.
In related news, insider David G. Mengebier sold 2,500 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $49.48, for a total transaction of $123,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $48.02, for a total value of $48,020.00. Following the sale, the insider now owns 28,176 shares of the company’s stock, valued at $1,353,011.52. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CMS. Zions Bancorporation raised its holdings 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 acquiring an additional 2,394 shares in the last quarter. Archford Capital Strategies LLC increased its position in CMS Energy 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. IBM Retirement Fund acquired a new position in CMS Energy during the third quarter worth $205,000. Campbell & CO Investment Adviser LLC acquired a new position in CMS Energy during the third quarter worth $216,000. Finally, BlueMountain Capital Management LLC acquired a new position in CMS Energy during the second quarter worth $217,000. Institutional investors and hedge funds own 87.42% of the company’s stock.
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.
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