CMS Energy (NYSE:CMS) Given New $70.00 Price Target at Wells Fargo & Company

CMS Energy (NYSE:CMS) had its target price raised by research analysts at Wells Fargo & Company from $66.00 to $70.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.74% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CMS. Scotiabank decreased their target price on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. UBS Group cut CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Thursday, April 4th. BMO Capital Markets upped their target price on CMS Energy from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Barclays increased their price objective on CMS Energy from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Finally, KeyCorp increased their price objective on CMS Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, CMS Energy has a consensus rating of “Moderate Buy” and an average target price of $64.73.

CMS Energy Trading Up 1.2 %

NYSE:CMS opened at $63.21 on Friday. The stock’s 50 day moving average price is $60.67 and its 200 day moving average price is $59.42. CMS Energy has a 52 week low of $49.87 and a 52 week high of $64.28. The company has a market capitalization of $18.88 billion, a P/E ratio of 19.27, a P/E/G ratio of 2.48 and a beta of 0.38. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.05 and a current ratio of 1.35.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, research analysts forecast that CMS Energy will post 3.33 EPS for the current fiscal year.

Insider Activity at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 1,667 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $59.98, for a total transaction of $99,986.66. Following the completion of the transaction, the senior vice president now directly owns 68,330 shares in the company, valued at $4,098,433.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $60.79, for a total transaction of $143,464.40. Following the completion of the transaction, the director now directly owns 14,556 shares in the company, valued at $884,859.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brandon J. Hofmeister sold 1,667 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the transaction, the senior vice president now owns 68,330 shares of the company’s stock, valued at $4,098,433.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,027 shares of company stock worth $365,651. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of CMS Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CMS. Scarborough Advisors LLC acquired a new stake in shares of CMS Energy in the fourth quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new stake in shares of CMS Energy in the fourth quarter valued at $36,000. TruNorth Capital Management LLC increased its stake in shares of CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of CMS Energy in the first quarter valued at $43,000. Finally, Tobam increased its stake in shares of CMS Energy by 2,432.3% in the fourth quarter. Tobam now owns 785 shares of the utilities provider’s stock valued at $46,000 after buying an additional 754 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

CMS Energy Company Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.