CMS Energy (CMS) Lowered to Neutral at Bank of America
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.
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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