Bank of America cut shares of CMS Energy (NYSE:CMS) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat reports. Bank of America currently has $52.00 target price on the utilities provider’s stock, down from their previous target price of $53.00. The analysts noted that the move was a valuation call.

A number of other brokerages have also issued reports on CMS. Citigroup raised their target price on CMS Energy from $46.00 to $49.00 and gave the stock a hold rating in a research note on Monday, July 9th. ValuEngine upgraded CMS Energy from a sell rating to a hold rating in a research note on Tuesday, June 26th. Barclays started coverage on CMS Energy in a research note on Wednesday, August 15th. They issued an equal weight rating and a $51.00 target price for the company. Zacks Investment Research lowered CMS Energy from a buy rating to a hold rating in a research note on Wednesday, September 26th. Finally, KeyCorp restated a buy rating and issued a $51.00 target price on shares of CMS Energy in a research note on Thursday, August 16th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $51.40.

Shares of CMS Energy stock traded down $0.36 during trading on Friday, reaching $48.85. The company’s stock had a trading volume of 3,075,706 shares, compared to its average volume of 2,666,177. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.68. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 3.39 and a beta of 0.02. CMS Energy has a 1-year low of $40.48 and a 1-year high of $51.36.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, July 26th. The utilities provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.38 billion. CMS Energy had a return on equity of 15.14% and a net margin of 8.13%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, equities research analysts anticipate that CMS Energy will post 2.34 earnings per share for the current fiscal year.

In other CMS Energy news, Director Jon E. Barfield sold 2,861 shares of CMS Energy stock in a transaction dated Monday, August 13th. The stock was 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 at this hyperlink. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $48.77, for a total value of $48,770.00. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Several large investors have recently bought and sold shares of CMS. Bank of New York Mellon Corp grew its position in shares of 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 acquiring an additional 2,030,430 shares during the period. Scout Investments Inc. grew its position in shares of 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 acquiring an additional 1,309,887 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of CMS Energy during the 2nd quarter valued at about $47,873,000. Carillon Tower Advisers Inc. grew its position in shares of 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 acquiring an additional 845,000 shares during the period. Finally, Millennium Management LLC grew its position in shares of 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 acquiring an additional 790,201 shares during the period. Hedge funds and other 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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Analyst Recommendations for CMS Energy (NYSE:CMS)

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