CMS Energy (CMS – Research Report), the Utilities sector company, was revisited by a Wall Street analyst yesterday. Analyst James Thalacker from BMO Capital maintained a Buy rating on the stock and has a $76.00 price target.
James Thalacker has given his Buy rating due to a combination of factors regarding CMS Energy’s stock. His positive outlook is shaped by the company’s solid earnings per share (EPS) and dividend per share (DPS) growth rates, which are above average and suggest a strong financial performance. Additionally, Thalacker is encouraged by the company’s visible long-term capital program and its consistent execution of business strategies. He also notes the favorable regulatory environment, which can contribute to the company’s growth and stability.
Furthermore, Thalacker finds the company’s valuation attractive as it is currently trading at a discount relative to its historical valuation, implying a potential upside for investors. The financial positions and forecasts presented by both the Michigan Public Service Commission staff and the Michigan Attorney General, although proposing lower revenue requirements than CMS Energy’s request, are seen as reasonable and in line with past rate cases. These considerations, combined with the company’s robust fundamentals, underpin Thalacker’s recommendation to buy CMS Energy stock.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $76.00 price target.
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CMS Energy (CMS) Company Description:
CMS Energy Corp. is a holding company, which engages in business through its subsidiaries. It operates through the following business segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution and sale of electricity. The Gas Utility segment is comprised of the purchase, transmission, storage, distribution and sale of natural gas The Enterprises segment engages primarily in domestic independent power production, marketing of independent power production and the development and operation of renewable generation. The company was founded in 1987 and is headquartered in Jackson, MI.