CMS Energy (CMS) Raised to “Hold” at Zacks Investment Research

CMS Energy (NYSE:CMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “CMS Energy’s focus on strengthening circuits and substations, replacing aging poles and installing smart meters is impressive. The company is currently focusing on several issues such as capacity maximization, reliability improvement, clean power generation and infrastructure upgrade. Under the electric utility operations, CMS Energy focuses on strengthening circuits and substations, replacing aging poles and installing smart meters. These initiatives must have led the company to outperform its broader industry in past one year. However, unexpected weather conditions may result in reduced utility usage, thereby affecting CMS Energy’s performance. Moreover, increasing stringency of global environmental regulations on curbing carbon emissions during electricity generation remains a major concern for CMS Energy. Adverse decisions in regulatory cases may negatively impact the company’s earnings.”

Other equities analysts also recently issued reports about the company. Bank of America initiated coverage on CMS Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $52.00 target price on the stock. KeyCorp restated a “buy” rating and issued a $51.00 price objective on shares of CMS Energy in a report on Friday, October 20th. Morgan Stanley restated an “equal weight” rating and issued a $52.00 price objective on shares of CMS Energy in a report on Wednesday, December 13th. SunTrust Banks restated a “hold” rating and issued a $47.00 price objective on shares of CMS Energy in a report on Wednesday, October 4th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $46.00 price objective on shares of CMS Energy in a report on Monday, September 11th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $49.25.

CMS Energy (NYSE:CMS) traded up $0.53 during midday trading on Tuesday, reaching $46.34. The company had a trading volume of 2,252,000 shares, compared to its average volume of 2,038,500. CMS Energy has a 1 year low of $41.26 and a 1 year high of $50.85. The stock has a market capitalization of $13,070.00, a P/E ratio of 24.01, a PEG ratio of 3.05 and a beta of 0.19. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.94 and a quick ratio of 0.59.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. CMS Energy had a return on equity of 12.30% and a net margin of 8.38%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. sell-side analysts predict that CMS Energy will post 2.17 EPS for the current fiscal year.

In other news, insider David G. Mengebier sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $49.48, for a total value of $123,700.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $48.02, for a total value of $48,020.00. Following the completion of the transaction, the insider now owns 28,176 shares in the company, valued at $1,353,011.52. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Several hedge funds have recently bought and sold shares of CMS. Zions Bancorporation grew its stake in shares of CMS Energy by 8,255.2% in the third quarter. Zions Bancorporation now owns 2,423 shares of the utilities provider’s stock valued at $112,000 after buying an additional 2,394 shares in the last quarter. Archford Capital Strategies LLC grew its stake in shares of CMS Energy by 62.0% in the second 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 in the last quarter. IBM Retirement Fund acquired a new stake in shares of CMS Energy in the third quarter valued at about $205,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of CMS Energy in the third quarter valued at about $216,000. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of CMS Energy in the second quarter valued at about $217,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

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About CMS Energy

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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