CMS Energy (NYSE:CMS) PT Raised to $76.00 at Mizuho

CMS Energy (NYSE:CMS) had its price target boosted by Mizuho from $65.00 to $76.00 in a report released on Tuesday, Benzinga reports. Mizuho currently has an outperform rating on the utilities provider’s stock.

Several other brokerages have also commented on CMS. BMO Capital Markets lifted their price objective on CMS Energy from $69.00 to $76.00 and gave the stock an outperform rating in a report 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. KeyCorp increased their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the stock an overweight rating in a research note on Monday, September 30th. Wells Fargo & Company boosted their target price on shares of CMS Energy from $66.00 to $70.00 and gave the company an overweight rating in a research report on Friday, July 26th. Finally, Bank of America increased their price target on shares of CMS Energy from $69.00 to $73.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $69.38.

CMS Energy Price Performance

CMS opened at $71.20 on Tuesday. The company’s 50-day simple moving average is $68.00 and its two-hundred day simple moving average is $63.04. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The stock has a market capitalization of $21.26 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.80 and a beta of 0.41. CMS Energy has a 52-week low of $50.70 and a 52-week high of $71.57.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts predict that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were paid a $0.51 dividend. The ex-dividend date was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. CMS Energy’s payout ratio is presently 62.80%.

Hedge Funds Weigh In On CMS Energy

Large investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its position in shares of CMS Energy by 0.6% during the second quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider’s stock worth $1,511,000 after purchasing an additional 157 shares in the last quarter. Continuum Advisory LLC raised its position in shares of CMS Energy by 9.6% during the second quarter. Continuum Advisory LLC now owns 2,330 shares of the utilities provider’s stock valued at $139,000 after buying an additional 205 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of CMS Energy by 6.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,767 shares of the utilities provider’s stock worth $224,000 after buying an additional 236 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of CMS Energy by 19.8% during the fourth quarter. Parallel Advisors LLC now owns 1,458 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 241 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its position in shares of CMS Energy by 6.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 4,201 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 265 shares during the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

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.