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Bank of America Securities Sticks to Their Buy Rating for CMS Energy (CMS)

Tipranks - Tipranks - Thu Jun 4, 7:24PM CDT

Bank of America Securities analyst Ross Fowler maintained a Buy rating on CMS Energy yesterday and set a price target of $88.00.

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Fowler covers the Utilities sector, focusing on stocks such as Eversource Energy, FirstEnergy, and Evergy. According to TipRanks, Fowler has an average return of 6.2% and a 59.78% success rate on recommended stocks.

In addition to Bank of America Securities, CMS Energy also received a Buy from J.P. Morgan’s Jeremy Tonet in a report issued on May 18. However, on May 21, Morgan Stanley maintained a Hold rating on CMS Energy (NYSE: CMS).

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Based on CMS Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.73 billion and a net profit of $340 million. In comparison, last year the company earned a revenue of $2.45 billion and had a net profit of $304 million

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMS in relation to earlier this year. Last month, Brandon J. Hofmeister, the SVP of CMS sold 3,000.00 shares for a total of $222,930.00.

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