SunTrust Banks set a $44.00 target price on CMS Energy (NYSE:CMS) in a research report report published on Tuesday. The firm currently has a hold rating on the utilities provider’s stock.
A number of other brokerages have also weighed in on CMS. Wells Fargo & Co upgraded shares of CMS Energy from a market perform rating to an outperform rating in a research report on Monday, December 18th. Morgan Stanley restated an equal weight rating and set a $52.00 target price on shares of CMS Energy in a research report on Wednesday, December 13th. KeyCorp restated a buy rating and set a $51.50 target price on shares of CMS Energy in a research report on Friday, December 15th. Bank of America began coverage on shares of CMS Energy in a research report on Tuesday, October 24th. They set a buy rating and a $52.00 target price for the company. Finally, Zacks Investment Research upgraded shares of CMS Energy from a sell rating to a hold rating in a research report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $49.05.
Shares of CMS Energy (NYSE CMS) traded up $0.25 during trading hours on Tuesday, hitting $44.26. 3,564,700 shares of the company were exchanged, compared to its average volume of 2,427,960. 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 12-month low of $41.58 and a 12-month high of $50.85. The company has a market capitalization of $12,411.38, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 2.93 and a beta of 0.19.
CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.07. CMS Energy had a net margin of 8.38% and a return on equity of 12.30%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. CMS Energy’s revenue for the quarter was down 3.8% on a year-over-year basis. equities research analysts anticipate that CMS Energy will post 2.17 EPS for the current year.
In other CMS Energy news, insider David G. Mengebier sold 2,500 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $49.48, for a total transaction of $123,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $48.02, for a total transaction of $48,020.00. Following the transaction, the insider now owns 28,176 shares of the company’s stock, valued at approximately $1,353,011.52. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Shell Asset Management Co. lifted its holdings in shares of CMS Energy by 12.3% in the 3rd quarter. Shell Asset Management Co. now owns 81,839 shares of the utilities provider’s stock worth $2,427,000 after acquiring an additional 8,976 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of CMS Energy by 18.4% in the 3rd quarter. Toronto Dominion Bank now owns 106,908 shares of the utilities provider’s stock worth $4,951,000 after acquiring an additional 16,607 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of CMS Energy by 8.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 965,860 shares of the utilities provider’s stock worth $44,739,000 after acquiring an additional 79,200 shares during the last quarter. Scout Investments Inc. bought a new stake in shares of CMS Energy in the 3rd quarter worth about $7,003,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of CMS Energy by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,610,745 shares of the utilities provider’s stock worth $74,609,000 after acquiring an additional 307,776 shares during the last quarter. Hedge funds and other institutional investors own 87.25% of the company’s stock.
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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.
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