美股選股指南：9支最值得買入的500強股票

9. CMS能源

美國500強排名：383

5年總回報率：160%

預計今年每股盈利增長率：8.4%

股息率：3.6%

2015年預期市盈率：17.2倍

CMS能源公司最吸引人的地方是它相對較高的股息率，這是電力股的典型特征。因此，追求股利的投資者已經將該公司的估值基本推到了市場平均水平，如果利率上漲，那么這些投資者可能將轉向別處尋求收益流。不過CMS目前仍是一支值得入手的股票，在18位華爾街分析師中，有半數推薦“買入”。Hilliard Lyons公司分析師大衛·伯克斯指出，據CMS公司的管理層預期，該公司未來5年的年收益增長率將在5%到7%之間，“高于電力行業平均水平”，這可能意味著CMS的股利增幅也將高于平均水平，而該公司的股利目前還有“很大的增長空間”。不過投資者們還是要保持謹慎。伯克斯也提醒道，利率上漲仍然是一個風險，如果美聯儲真的漲息，那么CMS的實際表現恐怕不像看上去那么美。（財富中文網）

譯者：樸成奎

審校：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.