CMS Energy (NYSE:CMS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, April 10th.
According to Zacks, “CMS Energy's share price has outperformed the broader market in last one year. It's regulated electric power operations in Michigan generate a relatively stable and growing earnings stream. The company boasts a solid capital expenditure program to boost its infrastructural upgrades. It is currently focused on capacity maximization, reliability improvement, clean power generation and infrastructure upgrade. It also maintains a stable liquidity position, besides exhibiting a strong cash generating capacity. However, the company incurs significant costs related to the construction, operation, and closure of solid waste disposal facilities for coal ash. CMS Energy’s businesses are sensitive to commodity prices. An upward movement in fuel prices could increase the company’s cost of operations. Adverse decisions in regulatory cases may also negatively impact CMS Energy’s earnings.”
CMS has been the topic of a number of other reports. Morgan Stanley dropped their price objective on shares of CMS Energy from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, March 8th. SunTrust Banks reissued a “hold” rating and set a $45.00 price objective on shares of CMS Energy in a report on Monday, January 29th. Wells Fargo dropped their price objective on shares of CMS Energy from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. UBS began coverage on shares of CMS Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $49.00 price objective on the stock. Finally, Guggenheim reissued a “hold” rating and set a $50.00 price objective on shares of CMS Energy in a report on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.58.
CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Wednesday, February 14th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a return on equity of 13.60% and a net margin of 6.99%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. equities analysts forecast that CMS Energy will post 2.33 earnings per share for the current year.
In other CMS Energy news, SVP Catherine M. Reynolds sold 8,310 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $43.40, for a total value of $360,654.00. Following the sale, the senior vice president now directly owns 126,810 shares of the company’s stock, valued at $5,503,554. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of CMS. Janney Montgomery Scott LLC raised its position in shares of CMS Energy by 3.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 39,061 shares of the utilities provider’s stock worth $1,809,000 after purchasing an additional 1,210 shares during the last quarter. Ibex Wealth Advisors raised its position in shares of CMS Energy by 9.0% during the 4th quarter. Ibex Wealth Advisors now owns 15,404 shares of the utilities provider’s stock worth $713,000 after purchasing an additional 1,271 shares during the last quarter. Cognios Capital LLC raised its position in shares of CMS Energy by 31.6% during the 4th quarter. Cognios Capital LLC now owns 5,750 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 1,380 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of CMS Energy by 4.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 36,855 shares of the utilities provider’s stock worth $1,743,000 after purchasing an additional 1,420 shares during the last quarter. Finally, Norinchukin Bank The raised its position in shares of CMS Energy by 7.4% during the 4th quarter. Norinchukin Bank The now owns 22,548 shares of the utilities provider’s stock worth $1,067,000 after purchasing an additional 1,557 shares during the last quarter. Institutional investors and hedge funds own 88.27% of the company’s stock.
About CMS Energy
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CMS Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CMS Energy and related companies with MarketBeat.com's FREE daily email newsletter.