CMS Energy (NYSE:CMS) Price Target Raised to $61.00

CMS Energy (NYSE:CMS) had its price target increased by Morgan Stanley from $57.00 to $61.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada reduced their target price on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a report on Monday, March 4th. Barclays lifted their target price on shares of CMS Energy from $57.00 to $59.00 and gave the company an equal weight rating in a report on Tuesday, April 30th. Guggenheim upgraded shares of CMS Energy from a neutral rating to a buy rating and boosted their price objective for the stock from $60.00 to $64.00 in a report on Friday, February 2nd. JPMorgan Chase & Co. boosted their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a report on Wednesday, March 13th. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $64.33.

CMS Energy Stock Up 1.4 %

Shares of NYSE CMS opened at $61.33 on Tuesday. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. The firm has a fifty day moving average of $60.45 and a 200-day moving average of $58.68. The stock has a market capitalization of $18.28 billion, a PE ratio of 18.70, a P/E/G ratio of 2.44 and a beta of 0.37. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 1.82.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. On average, analysts anticipate that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s payout ratio is currently 62.80%.

Insider Transactions at CMS Energy

In other 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 value of $122,200.00. Following the completion of the sale, the senior vice president now owns 97,682 shares of the company’s stock, valued at approximately $5,968,370.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On CMS Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC grew its position in shares of CMS Energy by 6.2% during the 3rd quarter. Private Advisor Group LLC now owns 17,484 shares of the utilities provider’s stock valued at $929,000 after buying an additional 1,018 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of CMS Energy by 5.5% during the 3rd quarter. Victory Capital Management Inc. now owns 497,407 shares of the utilities provider’s stock valued at $26,417,000 after buying an additional 25,723 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of CMS Energy by 3.6% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 272,696 shares of the utilities provider’s stock valued at $14,483,000 after buying an additional 9,544 shares during the last quarter. Atria Investments Inc grew its position in shares of CMS Energy by 0.6% during the 3rd quarter. Atria Investments Inc now owns 37,933 shares of the utilities provider’s stock valued at $2,015,000 after buying an additional 227 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its position in shares of CMS Energy by 8.4% during the 3rd quarter. Zions Bancorporation N.A. now owns 9,662 shares of the utilities provider’s stock valued at $513,000 after buying an additional 751 shares during the last quarter. Institutional investors 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.