CMS Energy (NYSE:CMS) PT Raised to $67.00

CMS Energy (NYSE:CMS) had its price objective upped by Guggenheim from $66.00 to $67.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

CMS has been the topic of a number of other reports. UBS Group lowered shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 price objective on the stock. in a report on Thursday, April 4th. Morgan Stanley reduced their price objective on shares of CMS Energy from $61.00 to $58.00 and set an equal weight rating on the stock in a report on Monday, June 24th. Wells Fargo & Company raised their price objective on shares of CMS Energy from $66.00 to $70.00 and gave the company an overweight rating in a report on Friday. BMO Capital Markets lifted their price target on shares of CMS Energy from $68.00 to $71.00 and gave the stock an outperform rating in a research note on Tuesday, May 14th. Finally, Barclays lifted their price target on shares of CMS Energy from $57.00 to $59.00 and gave the stock an equal weight rating in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $65.00.

CMS Energy Stock Performance

CMS Energy stock opened at $63.66 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 2.50 and a beta of 0.38. The firm has a 50 day simple moving average of $60.68 and a 200-day simple moving average of $59.48. CMS Energy has a 1-year low of $49.87 and a 1-year high of $64.28.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company posted $0.75 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, August 2nd. CMS Energy’s payout ratio is 62.80%.

Insider Activity

In related news, SVP Brian F. Rich sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total transaction of $122,200.00. Following the sale, the senior vice president now owns 97,682 shares of the company’s stock, valued at $5,968,370.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Brian F. Rich sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total transaction of $122,200.00. Following the sale, the senior vice president now owns 97,682 shares of the company’s stock, valued at $5,968,370.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brandon J. Hofmeister sold 1,667 shares of CMS Energy stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $59.98, for a total transaction of $99,986.66. Following the transaction, the senior vice president now owns 68,330 shares of the company’s stock, valued at approximately $4,098,433.40. The disclosure for this sale can be found here. Insiders have sold a total of 6,027 shares of company stock valued at $365,651 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in shares of CMS Energy by 58.3% in the fourth quarter. SG Americas Securities LLC now owns 27,588 shares of the utilities provider’s stock valued at $1,602,000 after buying an additional 10,163 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of CMS Energy in the fourth quarter valued at approximately $47,000. Raymond James Financial Services Advisors Inc. raised its position in shares of CMS Energy by 68.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 26,034 shares during the last quarter. Pacer Advisors Inc. increased its position in CMS Energy by 161.8% during the fourth quarter. Pacer Advisors Inc. now owns 74,182 shares of the utilities provider’s stock worth $4,308,000 after purchasing an additional 45,843 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in CMS Energy during the fourth quarter worth approximately $229,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

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.