CMS Energy (NYSE:CMS) Cut to Peer Perform at Wolfe Research

CMS Energy (NYSE:CMS) was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued on Monday,Finviz reports.

CMS has been the topic of several other reports. Jefferies Financial Group raised their price objective on shares of CMS Energy from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Morgan Stanley set a $71.00 price target on CMS Energy and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. BMO Capital Markets upped their price objective on CMS Energy from $77.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Bank of America upped their price objective on shares of CMS Energy from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 24th. Finally, Wall Street Zen raised CMS Energy from a “sell” rating to a “hold” rating in a report on Saturday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, CMS Energy has a consensus rating of “Moderate Buy” and an average target price of $77.00.

CMS Energy Stock Up 1.1%

CMS opened at $70.44 on Monday. The business’s 50-day simple moving average is $70.52 and its 200-day simple moving average is $70.25. The stock has a market capitalization of $21.07 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.51 and a beta of 0.38. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.84 and a current ratio of 1.06. CMS Energy has a one year low of $58.50 and a one year high of $76.45.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, April 24th. The utilities provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.03). The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.32 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.06%. CMS Energy’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Analysts anticipate that CMS Energy will post 3.59 EPS for the current year.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,198 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $73.61, for a total value of $161,794.78. Following the sale, the senior vice president directly owned 69,571 shares in the company, valued at $5,121,121.31. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On CMS Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AlphaQuest LLC lifted its stake in shares of CMS Energy by 285.5% during the first quarter. AlphaQuest LLC now owns 451 shares of the utilities provider’s stock valued at $34,000 after buying an additional 334 shares during the period. WPG Advisers LLC purchased a new position in shares of CMS Energy during the 1st quarter worth $47,000. Larson Financial Group LLC boosted its holdings in shares of CMS Energy by 2,900.0% during the fourth quarter. Larson Financial Group LLC now owns 720 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 696 shares during the last quarter. Optiver Holding B.V. grew its position in shares of CMS Energy by 39.2% in the fourth quarter. Optiver Holding B.V. now owns 813 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 229 shares during the period. Finally, Mizuho Bank Ltd. acquired a new position in CMS Energy in the fourth quarter valued at $61,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

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.