CMS Energy (NYSE:CMS) Rating Lowered to Neutral at Mizuho

CMS Energy (NYSE:CMS) was downgraded by stock analysts at Mizuho from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $72.00 price objective on the utilities provider’s stock, down from their prior price objective of $76.00. Mizuho’s price target would indicate a potential upside of 1.18% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Bank of America lifted their target price on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Barclays lifted their target price on CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 13th. Evercore ISI upgraded CMS Energy to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, KeyCorp lifted their target price on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Stock Performance

CMS stock opened at $71.16 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The business has a 50-day moving average price of $68.76 and a 200 day moving average price of $63.67. The company has a market capitalization of $21.25 billion, a P/E ratio of 21.70, a PEG ratio of 2.77 and a beta of 0.41. CMS Energy has a 1-year low of $52.12 and a 1-year high of $71.57.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. As a group, equities research analysts forecast that CMS Energy will post 3.33 EPS for the current fiscal year.

Hedge Funds Weigh In On CMS Energy

Several hedge funds have recently modified their holdings of CMS. JPMorgan Chase & Co. increased its holdings in CMS Energy by 14.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after buying an additional 2,786,071 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after buying an additional 3,473,977 shares during the period. Perpetual Ltd increased its holdings in CMS Energy by 5.4% in the 1st quarter. Perpetual Ltd now owns 2,607,102 shares of the utilities provider’s stock worth $157,313,000 after buying an additional 134,035 shares during the period. iA Global Asset Management Inc. increased its holdings in CMS Energy by 105.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock worth $92,623,000 after buying an additional 800,344 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in CMS Energy by 46.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,332,892 shares of the utilities provider’s stock worth $79,275,000 after buying an additional 421,059 shares during the period. Institutional investors and hedge funds own 93.57% of the company’s stock.

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.