Jefferies Boosts CMS Energy with Solid Buy Rating
On November 5, 2024, Jefferies initiated coverage for CMS Energy (NYSE:CMS), expressing a Buy recommendation for the company’s stock.
Analyst Forecast Indicates Potential Gains
The average one-year price target for CMS Energy sits at $72.70 per share as of October 22, 2024. This projection shows a range from a low of $58.69 to a high of $80.85. The average target suggests a potential upside of 5.19% from the latest closing price of $69.11 per share.
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CMS Energy’s projected annual revenue is $8,194 million, marking a significant increase of 9.60% from previous forecasts. The anticipated annual non-GAAP earnings per share (EPS) stands at 3.42.
Investor Sentiment and Fund Positioning
A total of 1,463 funds now report positions in CMS Energy, reflecting a rise of 36 new owners, or 2.52%, in just the last quarter. The average portfolio weight for these funds allocated to CMS Energy is 0.31%, up by 2.48%. However, the total shares owned by institutions dipped by 0.44% to 343,937K shares over the last three months.
The current put/call ratio for CMS Energy is 0.46, signaling a bullish outlook among investors.
Institutional Holdings and Changes
JPMorgan Chase currently holds 25,055K shares, equating to an 8.39% ownership stake in CMS Energy. Their latest filing shows an increase from 22,663K shares, despite a significant 83.41% reduction in portfolio allocation over the last quarter.
Vanguard Total Stock Market Index Fund (VTSMX) possesses 9,433K shares, or 3.16% ownership, up from 9,166K shares—a 2.82% gain. However, this fund also reduced its allocation by 1.27% over the last quarter.
Similarly, Vanguard 500 Index Fund (VFINX) has increased its holdings to 7,665K shares, which is 2.57% ownership, rising from 7,417K shares—an increase of 3.23%, even as it trimmed its portfolio allocation by 3.49% in the same period.
Geode Capital Management now owns 7,405K shares, representing 2.48% of the company. Their holdings have risen from 7,116K shares (an increase of 3.90%), despite a drastic 49.13% decline in allocation.
Massachusetts Financial Services reported a substantial increase to 6,891K shares, equal to 2.31% ownership—up from 3,417K shares, marking a significant 50.41% increase, but simultaneously reducing its allocation by 68.58% in the last quarter.
CMS Energy Overview
(Description provided by the company.) Consumers Energy, the largest energy provider in Michigan, serves 6.7 million individuals, which is nearly 67% of the state’s population, throughout 68 counties in the Lower Peninsula.
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This information originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
