CMS Energy (NYSE:CMS) Given New $68.00 Price Target at Barclays

CMS Energy (NYSE:CMS) had its price objective lifted by Barclays from $65.00 to $68.00 in a research report sent to investors on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Other research analysts also recently issued reports about the company. Mizuho downgraded CMS Energy from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $76.00 to $72.00 in a research note on Tuesday. KeyCorp raised their price target on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company lifted their target price on CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Evercore ISI upgraded CMS Energy to a “hold” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Stock Up 0.4 %

Shares of CMS Energy stock opened at $71.29 on Tuesday. The business’s 50 day simple moving average is $68.99 and its 200 day simple moving average is $63.79. CMS Energy has a 52-week low of $52.12 and a 52-week high of $71.57. The firm has a market cap of $21.29 billion, a PE ratio of 21.73, a P/E/G ratio of 2.77 and a beta of 0.41. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. CMS Energy’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 EPS. On average, analysts predict that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 annualized dividend and a yield of 2.86%. CMS Energy’s payout ratio is currently 62.80%.

Hedge Funds Weigh In On CMS Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMS. Massachusetts Financial Services Co. MA raised its holdings in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after acquiring an additional 3,473,977 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in CMS Energy by 14.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after acquiring an additional 2,786,071 shares in the last quarter. Raymond James & Associates raised its holdings in CMS Energy by 310.2% in the 3rd quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock valued at $79,519,000 after acquiring an additional 851,364 shares in the last quarter. iA Global Asset Management Inc. raised its holdings in CMS Energy by 105.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock valued at $92,623,000 after acquiring an additional 800,344 shares in the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in CMS Energy in the 2nd quarter valued at $47,082,000. 93.57% of the stock is owned by institutional investors and hedge funds.

About CMS Energy

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.