CMS Energy Corporation (CMS) Raised to “Strong-Buy” at BidaskClub
CMS Energy Corporation (NYSE:CMS) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded CMS Energy Corporation from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, February 21st. Deutsche Bank AG boosted their target price on CMS Energy Corporation from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. BMO Capital Markets restated a “buy” rating and issued a $48.00 target price on shares of CMS Energy Corporation in a research note on Tuesday, May 2nd. Barclays PLC restated an “equal weight” rating and issued a $49.00 target price (up previously from $44.00) on shares of CMS Energy Corporation in a research note on Sunday, April 23rd. Finally, Evercore ISI upgraded CMS Energy Corporation to an “outperform” rating in a research note on Monday, March 6th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. CMS Energy Corporation has a consensus rating of “Buy” and a consensus price target of $46.60.
CMS Energy Corporation (NYSE:CMS) traded up 0.35% during mid-day trading on Friday, reaching $48.25. The company’s stock had a trading volume of 2,661,874 shares. CMS Energy Corporation has a 52-week low of $38.78 and a 52-week high of $48.37. The firm has a 50 day moving average price of $46.45 and a 200 day moving average price of $43.99. The company has a market cap of $13.51 billion, a price-to-earnings ratio of 22.97 and a beta of 0.15.
CMS Energy Corporation (NYSE:CMS) last announced its earnings results on Monday, May 1st. The utilities provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. CMS Energy Corporation had a return on equity of 13.94% and a net margin of 9.12%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that CMS Energy Corporation will post $2.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Friday, May 5th were paid a $0.3325 dividend. The ex-dividend date was Wednesday, May 3rd. This represents a $1.33 annualized dividend and a yield of 2.76%. CMS Energy Corporation’s payout ratio is 63.03%.
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In other CMS Energy Corporation news, VP Glenn P. Barba sold 16,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $45.12, for a total transaction of $721,920.00. Following the sale, the vice president now owns 33,913 shares of the company’s stock, valued at approximately $1,530,154.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Catherine M. Reynolds sold 10,246 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $45.49, for a total transaction of $466,090.54. Following the sale, the senior vice president now directly owns 113,956 shares in the company, valued at approximately $5,183,858.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,246 shares of company stock worth $4,114,711. 0.65% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of CMS. Guggenheim Capital LLC boosted its stake in shares of CMS Energy Corporation by 5.0% in the fourth quarter. Guggenheim Capital LLC now owns 900,458 shares of the utilities provider’s stock worth $37,477,000 after buying an additional 42,968 shares during the last quarter. Cigna Investments Inc. New acquired a new stake in shares of CMS Energy Corporation during the fourth quarter worth about $426,000. Elkfork Partners LLC acquired a new stake in shares of CMS Energy Corporation during the fourth quarter worth about $868,000. Kentucky Retirement Systems acquired a new stake in shares of CMS Energy Corporation during the fourth quarter worth about $843,000. Finally, Macquarie Group Ltd. boosted its stake in shares of CMS Energy Corporation by 10.3% in the fourth quarter. Macquarie Group Ltd. now owns 102,600 shares of the utilities provider’s stock worth $4,271,000 after buying an additional 9,600 shares during the last quarter. 87.00% of the stock is currently owned by institutional investors and hedge funds.
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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