Zacks Investment Research upgraded shares of CMS Energy (NYSE:CMS) from a sell rating to a hold rating in a research note released on Tuesday, January 9th.
According to Zacks, “CMS Energy’s focus on strengthening circuits and substations, replacing aging poles and installing smart meters is impressive. The company is currently focusing on several issues such as capacity maximization, reliability improvement, clean power generation and infrastructure upgrade. Under the electric utility operations, CMS Energy focuses on strengthening circuits and substations, replacing aging poles and installing smart meters. These initiatives must have led the company to outperform its broader industry in past one year. However, unexpected weather conditions may result in reduced utility usage, thereby affecting CMS Energy’s performance. Moreover, increasing stringency of global environmental regulations on curbing carbon emissions during electricity generation remains a major concern for CMS Energy. Adverse decisions in regulatory cases may negatively impact the company’s earnings.”
A number of other equities research analysts have also recently weighed in on CMS. KeyCorp restated a buy rating and issued a $51.00 price target on shares of CMS Energy in a research note on Friday, October 20th. Guggenheim restated a hold rating and issued a $50.00 price target on shares of CMS Energy in a research note on Wednesday, January 3rd. Morgan Stanley reaffirmed an equal weight rating and issued a $52.00 price objective on shares of CMS Energy in a report on Wednesday, December 13th. Wells Fargo & Co raised CMS Energy from a market perform rating to an outperform rating in a report on Monday, December 18th. Finally, SunTrust Banks reaffirmed a hold rating and issued a $46.00 price objective on shares of CMS Energy in a report on Tuesday, December 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. CMS Energy presently has an average rating of Buy and a consensus price target of $49.14.
Shares of CMS Energy (NYSE CMS) opened at $43.48 on Tuesday. CMS Energy has a 12 month low of $42.31 and a 12 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. The firm has a market capitalization of $12,261.92, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.91 and a beta of 0.09.
In other 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.65% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of CMS Energy by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 29,277,644 shares of the utilities provider’s stock worth $1,354,091,000 after purchasing an additional 764,989 shares in the last quarter. BlackRock Inc. boosted its stake in CMS Energy by 11.6% in the second quarter. BlackRock Inc. now owns 25,533,148 shares of the utilities provider’s stock valued at $1,180,906,000 after buying an additional 2,653,503 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in CMS Energy by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 21,476,208 shares of the utilities provider’s stock valued at $995,424,000 after buying an additional 694,563 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in CMS Energy by 4.4% in the third quarter. Bank of New York Mellon Corp now owns 14,018,642 shares of the utilities provider’s stock valued at $649,344,000 after buying an additional 596,628 shares in the last quarter. Finally, Capital International Investors boosted its stake in CMS Energy by 68.9% in the third quarter. Capital International Investors now owns 9,853,468 shares of the utilities provider’s stock valued at $456,413,000 after buying an additional 4,018,068 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.
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About CMS Energy
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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