CMS Energy Corporation (CMS) Stock Rating Lowered by Zacks Investment Research
CMS Energy Corporation (NYSE:CMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
According to Zacks, “Increasing stringency of global environmental regulations on curbing carbon emissions during electricity generation remains a major concern for CMS Energy. Additionally, an upward movement in fuel prices may potentially increase the company’s cost of operations. Unexpected weather conditions may result in reduced utility usage, thereby affecting CMS Energy’s financial performance. Moreover, the company underperformed its broader industry in the past three months. Nevertheless, the company’s focus on strengthening circuits and substations, replacing aging poles and installing smart meters buoys optimism.”
Other equities analysts also recently issued reports about the company. Credit Suisse Group upgraded CMS Energy Corporation from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $46.00 to $50.00 in a report on Monday, July 24th. Morgan Stanley set a $49.00 price objective on CMS Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 10th. Royal Bank Of Canada restated a “hold” rating and issued a $46.00 price objective on shares of CMS Energy Corporation in a report on Monday, September 11th. BMO Capital Markets restated a “buy” rating and issued a $48.00 price objective on shares of CMS Energy Corporation in a report on Monday, July 31st. Finally, BidaskClub upgraded CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $48.56.
Shares of CMS Energy Corporation (CMS) opened at 47.54 on Friday. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 24.01 and a beta of 0.15. The firm’s 50-day moving average is $47.45 and its 200-day moving average is $46.67. CMS Energy Corporation has a 52 week low of $38.78 and a 52 week high of $49.11.
CMS Energy Corporation (NYSE:CMS) last released its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.36 billion. CMS Energy Corporation had a return on equity of 12.98% and a net margin of 8.52%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. On average, equities research analysts anticipate that CMS Energy Corporation will post $2.17 EPS for the current fiscal year.
In other news, SVP Brian F. Rich sold 3,500 shares of CMS Energy Corporation stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $48.26, for a total value of $168,910.00. Following the completion of the transaction, the senior vice president now owns 44,835 shares in the company, valued at approximately $2,163,737.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Garrick J. Rochow sold 2,000 shares of CMS Energy Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $47.81, for a total value of $95,620.00. Following the completion of the transaction, the insider now owns 64,307 shares of the company’s stock, valued at approximately $3,074,517.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,836 shares of company stock valued at $561,118. 0.65% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of CMS. Oxford Asset Management acquired a new position in shares of CMS Energy Corporation in the 1st quarter worth approximately $335,000. Van ECK Associates Corp grew its position in shares of CMS Energy Corporation by 18.0% in the 1st quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 370 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of CMS Energy Corporation by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 437,746 shares of the utilities provider’s stock worth $19,584,000 after acquiring an additional 6,427 shares in the last quarter. Wellington Management Group LLP grew its position in shares of CMS Energy Corporation by 286.4% in the 1st quarter. Wellington Management Group LLP now owns 63,049 shares of the utilities provider’s stock worth $2,821,000 after acquiring an additional 46,732 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of CMS Energy Corporation in the 1st quarter worth approximately $201,000. Institutional investors own 87.37% of the company’s stock.
CMS Energy Corporation 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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