CMS Energy (CMS) Upgraded at Argus

CMS Energy (NYSE:CMS) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a report released on Monday, September 10th, Marketbeat Ratings reports.

Several other equities analysts also recently issued reports on the stock. SunTrust Banks reaffirmed a “hold” rating and set a $50.00 price target on shares of CMS Energy in a research note on Wednesday, September 5th. KeyCorp reaffirmed a “buy” rating and set a $51.00 price target on shares of CMS Energy in a research note on Thursday, August 16th. Barclays began coverage on shares of CMS Energy in a research note on Wednesday, August 15th. They set an “equal weight” rating and a $51.00 price target for the company. Howard Weil reaffirmed a “sector outperform” rating on shares of CMS Energy in a research note on Tuesday, July 24th. Finally, Morgan Stanley raised their price target on shares of CMS Energy from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $50.40.

CMS Energy stock traded up $0.98 during mid-day trading on Monday, reaching $49.89. The company had a trading volume of 2,179,561 shares, compared to its average volume of 2,659,950. CMS Energy has a fifty-two week low of $40.48 and a fifty-two week high of $50.85. 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 firm has a market capitalization of $13.88 billion, a P/E ratio of 22.99, a P/E/G ratio of 3.39 and a beta of 0.02.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, July 26th. The utilities provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.38 billion. CMS Energy had a net margin of 8.13% and a return on equity of 15.14%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. On average, analysts expect that CMS Energy will post 2.34 earnings per share for the current year.

In related news, Director Jon E. Barfield sold 2,861 shares of CMS Energy stock in a transaction on Monday, August 13th. The shares were sold at an average price of $48.45, for a total transaction of $138,615.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of CMS Energy stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $48.77, for a total transaction of $48,770.00. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its stake in CMS Energy by 17.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,361,360 shares of the utilities provider’s stock valued at $64,365,000 after purchasing an additional 200,900 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in CMS Energy by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 709,247 shares of the utilities provider’s stock valued at $33,531,000 after purchasing an additional 9,437 shares in the last quarter. BlackRock Inc. increased its stake in CMS Energy by 5.4% in the first quarter. BlackRock Inc. now owns 29,023,347 shares of the utilities provider’s stock valued at $1,314,466,000 after purchasing an additional 1,489,311 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in CMS Energy by 19.0% in the second quarter. Sumitomo Life Insurance Co. now owns 54,763 shares of the utilities provider’s stock valued at $2,589,000 after purchasing an additional 8,757 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in CMS Energy by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,089,967 shares of the utilities provider’s stock valued at $51,534,000 after purchasing an additional 19,702 shares in the last quarter. 89.63% of the stock is owned by institutional investors and hedge funds.

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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