Management Meeting: CMS Benefits From Low Political, Regulatory Risk
We are raising our fair value estimate for CMS Energy to $43 per share from $42 after incorporating time-value appreciation and increased confidence that it can achieve its near-term growth investment plan with regulatory and political support. We are reaffirming our narrow moat and stable moat trend ratings.We recently met with management at the American Gas Association Financial Conference to discuss the changing political and regulatory landscape in Michigan. After big accomplishments with t...
CMS Energy is a holding company. The company has several subsidiaries, including: Consumers Energy Company, an electric and gas utility that serves individuals and businesses operating in the alternative energy, automotive, chemical, food, and metal products industries, as well as a group of other industries; CMS Enterprises Company, through its subsidiaries and equity investments, is engaged in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production; and EnerBank USA, an industrial bank located in Utah that provides unsecured consumer installment loans, primarily for financing home improvements.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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