CMS Energy (CMS) Rating Reiterated by SunTrust Banks

CMS Energy (NYSE:CMS)‘s stock had its “hold” rating reiterated by investment analysts at SunTrust Banks in a research report issued on Tuesday. They currently have a $46.00 price target on the utilities provider’s stock. SunTrust Banks’ price target points to a potential downside of 2.56% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of CMS Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Morgan Stanley increased their target price on shares of CMS Energy from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. KeyCorp reissued a “buy” rating and set a $51.00 target price on shares of CMS Energy in a research report on Friday, September 1st. Bank of America initiated coverage on shares of CMS Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $52.00 target price for the company. Finally, Royal Bank of Canada reissued a “hold” rating and set a $46.00 target price on shares of CMS Energy in a research report on Monday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $49.05.

Shares of CMS Energy (CMS) opened at $47.21 on Tuesday. The stock has a market cap of $13,353.30, a P/E ratio of 24.46, a P/E/G ratio of 3.37 and a beta of 0.19. CMS Energy has a 1 year low of $41.12 and a 1 year high of $50.85. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 1.99.

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

In other CMS Energy news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the company’s stock in a transaction that occurred on 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 approximately $1,353,011.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David G. Mengebier sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $49.48, for a total value of $123,700.00. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its stake in shares of CMS Energy by 12.3% during the 3rd quarter. Shell Asset Management Co. now owns 81,839 shares of the utilities provider’s stock valued at $2,427,000 after buying an additional 8,976 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of CMS Energy by 18.4% during the 3rd quarter. Toronto Dominion Bank now owns 106,908 shares of the utilities provider’s stock valued at $4,951,000 after buying an additional 16,607 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of CMS Energy by 8.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 965,860 shares of the utilities provider’s stock valued at $44,739,000 after buying an additional 79,200 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in shares of CMS Energy during the 2nd quarter valued at approximately $2,909,000. Finally, Magellan Asset Management Ltd boosted its stake in shares of CMS Energy by 8.0% during the 2nd quarter. Magellan Asset Management Ltd now owns 187,371 shares of the utilities provider’s stock valued at $8,666,000 after buying an additional 13,823 shares during the last quarter. Institutional investors own 87.15% of the company’s stock.

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CMS Energy Company Profile

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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