美股选股指南：9支最值得买入的500强股票

9. CMS能源

美国500强排名：383

5年总回报率：160%

预计今年每股盈利增长率：8.4%

股息率：3.6%

2015年预期市盈率：17.2倍

CMS能源公司最吸引人的地方是它相对较高的股息率，这是电力股的典型特征。因此，追求股利的投资者已经将该公司的估值基本推到了市场平均水平，如果利率上涨，那么这些投资者可能将转向别处寻求收益流。不过CMS目前仍是一支值得入手的股票，在18位华尔街分析师中，有半数推荐“买入”。Hilliard Lyons公司分析师大卫·伯克斯指出，据CMS公司的管理层预期，该公司未来5年的年收益增长率将在5%到7%之间，“高于电力行业平均水平”，这可能意味着CMS的股利增幅也将高于平均水平，而该公司的股利目前还有“很大的增长空间”。不过投资者们还是要保持谨慎。伯克斯也提醒道，利率上涨仍然是一个风险，如果美联储真的涨息，那么CMS的实际表现恐怕不像看上去那么美。（财富中文网）

译者：朴成奎

审校：任文科

9. CMS Energy

FORTUNE 500 RANK: 383

5-YEAR TOTAL RETURN: 160%

ESTIMATED EPS GROWTH THIS YEAR: 8.4%

DIVIDEND YIELD: 3.6%

ESTIMATED 2015 P/E: 17.2

The best thing CMS Energy CMS 0.79% has going for it is its relatively high dividend yield—typical for a utility stock. Still, yield-seeking investors have pushed up the company’s valuation to be nearly in line with the market average, and should interest rates rise, those same investors may turn elsewhere for their income stream. But CMS is a good coupon-clipping stock for now, and half of 18 Wall Street analysts recommend buying it, according to Bloomberg. Analyst David Burks at Hilliard Lyons, for example, notes that CMS's management anticipates annual earnings growth of 5% to 7% for the next five years, "a higher growth rate than for the average utility"; that could also mean above-average increases in CMS's dividend, which has "plenty of room" to grow, Burks wrote in a June research memo. Still, investors should be wary: Burks warns that higher interest rates are a risk, and after a Federal Reserve hike, CMS may look better on paper than it performs in reality.