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 analysts have also recently issued reports about the company. Credit Suisse Group raised CMS Energy Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $46.00 to $50.00 in a research note on Monday, July 24th. Morgan Stanley set a $49.00 price target on CMS Energy Corporation and gave the company a “hold” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $46.00 price target on shares of CMS Energy Corporation in a research note on Monday, September 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a research note on Monday, July 31st. Finally, BidaskClub raised CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.56.
Shares of CMS Energy Corporation (NYSE:CMS) traded down 0.25% during trading on Friday, hitting $47.60. 386,779 shares of the stock traded hands. CMS Energy Corporation has a 1-year low of $38.78 and a 1-year high of $49.11. The company has a 50 day moving average of $47.51 and a 200-day moving average of $46.65. The company has a market cap of $13.40 billion, a PE ratio of 24.04 and a beta of 0.15.
CMS Energy Corporation (NYSE:CMS) last released its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that CMS Energy Corporation will post $2.17 EPS for the current fiscal year.
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In other news, Director Jon E. Barfield sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total transaction of $296,588.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Garrick J. Rochow sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $47.81, for a total transaction of $95,620.00. Following the transaction, the insider now directly owns 64,307 shares of the company’s stock, valued at $3,074,517.67. The disclosure for this sale can be found here. Insiders have sold a total of 11,836 shares of company stock valued at $561,118 over the last ninety days. Company insiders own 0.65% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp grew its stake in shares of CMS Energy Corporation by 18.0% during 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. Archford Capital Strategies LLC boosted its holdings in shares of CMS Energy Corporation by 62.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock valued at $122,000 after buying an additional 438 shares during the last quarter. Brookfield Asset Management Inc. acquired a new stake in shares of CMS Energy Corporation in the 1st quarter valued at approximately $159,000. Meeder Asset Management Inc. acquired a new stake in shares of CMS Energy Corporation in the 2nd quarter valued at approximately $185,000. Finally, Laurion Capital Management LP acquired a new stake in shares of CMS Energy Corporation in the 1st quarter valued at approximately $201,000. 87.37% of the stock is owned by institutional investors.
About CMS Energy Corporation
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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