BMO Capital Affirms Rating as CMS Energy Seeks $456M Rate Increase
BMO Capital maintains an Outperform rating for CMS Energy and lowers the price target to $81 amid a $456M rate increase request. The proposed rate case aims for a 10.25% return on equity, reflecting ongoing investment in utility infrastructure.
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BMO Capital has reaffirmed its Outperform rating for CMS Energy Corp. (NYSE:CMS) while adjusting the price target from $82 to $81. This change follows Consumers Energy's recent application for a $456 million increase in revenue requirements based on a 10.25% return on equity.
Concurrently, Truist updated its price target for CMS Energy from $86 to $83, maintaining a Buy rating due to significant upside potential. Analysts have noted heightened investments influenced by the ongoing data center wave, emphasizing the strategic importance of vertically integrated electric utilities in infrastructure development.
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