The price of CMS Energy Corporation (NYSE:CMS) shares last traded on Wall Street rose 0.33% to $60.48.
CMS stock price is now 3.30% away from the 50-day moving average and 5.50% away from the 200-day moving average. The market capitalization of the company currently stands at $18.06B.
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On February 02, 2024, Guggenheim Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $60 to quote $64, while ‘Wolfe Research’ rates the stock as ‘Outperform’
In other news, Hofmeister Brandon J., Senior Vice President sold 3,500 shares of the company’s stock on Feb 23 ’24. The stock was sold for $202,240 at an average price of $57.78. Upon completion of the transaction, the Senior Vice President now directly owns 68,971 shares in the company, valued at $4.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 07 ’23, Senior Vice President Hofmeister Brandon J. sold 1,000 shares of the business’s stock. A total of $57,900 was realized by selling the stock at an average price of $57.90. This leaves the insider owning 61,156 shares of the company worth $3.7 million. A total of 0.59% of the company’s stock is owned by insiders.
During the past 12 months, CMS Energy Corporation has had a low of $49.87 and a high of $63.76. As of last week, the company has a debt-to-equity ratio of 2.05, a current ratio of 2.03, and a quick ratio of 0.66.
According to the Utilities – Regulated Electric Company, earnings per share came in at 0.7, missing analysts’ expectations of 0.76 by -0.06. This compares to $0.58 EPS in the same period last year. The net profit margin was 13.05% and return on equity was 13.11% for CMS. The company reported revenue of $1.95 billion for the quarter, compared to $2.28 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -14.4 percent. For the current quarter, analysts expect CMS to generate $2.34B in revenue.
CMS Energy Corporation(CMS) 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. Its distribution system comprises 208 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,428 miles of high-voltage distribution overhead lines; 19 miles of high-voltage distribution underground lines; 82,474 miles of electric distribution overhead lines; 9,395 miles of underground distribution lines; 1,093 substations; and 3 battery facilities. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,392 miles of transmission lines; 15 gas storage fields; 28,065 miles of distribution mains; and 8 compressor stations. The Enterprises segment is involved in the independent power production and marketing, including the development and operation of renewable generation. It serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.
