CMS Energy (NYSE:CMS – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
CMS has been the subject of a number of other reports. Mizuho cut their price objective on CMS Energy from $73.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, October 21st. TheStreet cut shares of CMS Energy from a “b-” rating to a “c+” rating in a research report on Tuesday, October 18th. Seaport Res Ptn reiterated a “buy” rating on shares of CMS Energy in a research report on Thursday, October 6th. Guggenheim reduced their price target on shares of CMS Energy from $70.00 to $57.00 in a research report on Monday, October 24th. Finally, Morgan Stanley lifted their price objective on CMS Energy from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.50.
CMS Energy Stock Performance
CMS stock traded down $0.60 during midday trading on Thursday, hitting $63.16. 3,049,129 shares of the stock traded hands, compared to its average volume of 1,969,696. CMS Energy has a 1-year low of $52.41 and a 1-year high of $73.76. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.22 and a quick ratio of 0.69. The stock’s fifty day simple moving average is $58.41 and its 200-day simple moving average is $63.86. The firm has a market cap of $18.33 billion, a P/E ratio of 14.13, a PEG ratio of 2.68 and a beta of 0.34.
CMS Energy (NYSE:CMS – Get Rating) last posted its earnings results on Thursday, October 27th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. CMS Energy had a net margin of 15.63% and a return on equity of 11.22%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.76 billion. On average, analysts expect that CMS Energy will post 2.89 earnings per share for the current year.
Insider Buying and Selling
In other news, CAO Scott B. Mcintosh sold 875 shares of CMS Energy stock in a transaction on Monday, October 31st. The stock was sold at an average price of $57.17, for a total transaction of $50,023.75. Following the transaction, the chief accounting officer now owns 22,907 shares in the company, valued at approximately $1,309,593.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Shaun M. Johnson sold 420 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $60.80, for a total value of $25,536.00. Following the completion of the transaction, the senior vice president now directly owns 44,425 shares in the company, valued at $2,701,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Scott B. Mcintosh sold 875 shares of CMS Energy stock in a transaction on Monday, October 31st. The shares were sold at an average price of $57.17, for a total value of $50,023.75. Following the completion of the sale, the chief accounting officer now owns 22,907 shares in the company, valued at approximately $1,309,593.19. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.
Institutional Trading of CMS Energy
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in CMS Energy by 5.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 308,204 shares of the utilities provider’s stock worth $20,803,000 after buying an additional 16,868 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in CMS Energy by 15.9% in the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,912 shares of the utilities provider’s stock valued at $669,000 after purchasing an additional 1,359 shares during the last quarter. Hightower 6M Holding LLC acquired a new stake in CMS Energy in the 1st quarter valued at approximately $226,000. MetLife Investment Management LLC raised its position in CMS Energy by 23.2% in the first quarter. MetLife Investment Management LLC now owns 78,825 shares of the utilities provider’s stock valued at $5,513,000 after purchasing an additional 14,821 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in CMS Energy during the first quarter worth $185,000. 92.62% 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. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.
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