Guggenheim Boosts CMS Energy (NYSE:CMS) Price Target to $67.00

CMS Energy (NYSE:CMS) had its price target increased by Guggenheim from $66.00 to $67.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s price target would suggest a potential upside of 6.42% from the company’s previous close.

Other equities research analysts have also issued reports about the company. BMO Capital Markets upped their price objective on CMS Energy from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Wells Fargo & Company raised their price objective on CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays boosted their price objective on CMS Energy from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. KeyCorp increased their price objective on shares of CMS Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CMS Energy has an average rating of “Moderate Buy” and a consensus target price of $65.00.

CMS Energy Stock Down 0.4 %

CMS traded down $0.25 during trading on Friday, hitting $62.96. 1,597,173 shares of the company’s stock traded hands, compared to its average volume of 2,369,509. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.48 and a beta of 0.38. The company’s 50 day simple moving average is $60.67 and its two-hundred day simple moving average is $59.42. CMS Energy has a 12-month low of $49.87 and a 12-month high of $64.28. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 1.82.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. Analysts predict that CMS Energy will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 1,667 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now owns 68,330 shares in the company, valued at approximately $4,098,433.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jon E. Barfield sold 2,360 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $60.79, for a total transaction of $143,464.40. Following the sale, the director now owns 14,556 shares of the company’s stock, valued at $884,859.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brandon J. Hofmeister sold 1,667 shares of the business’s 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 completion of 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. In the last 90 days, insiders have sold 6,027 shares of company stock valued at $365,651. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of CMS Energy

A number of institutional investors have recently made changes to their positions in CMS. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in CMS Energy by 16.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,451 shares of the utilities provider’s stock valued at $21,267,000 after purchasing an additional 49,630 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CMS Energy by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,374 shares of the utilities provider’s stock worth $97,579,000 after buying an additional 40,302 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in CMS Energy by 68.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 26,034 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of CMS Energy by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,851 shares of the utilities provider’s stock valued at $60,326,000 after acquiring an additional 18,636 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of CMS Energy by 132.8% in the fourth quarter. Hsbc Holdings PLC now owns 1,071,473 shares of the utilities provider’s stock worth $62,100,000 after acquiring an additional 611,282 shares during the period. Institutional investors and hedge funds own 93.57% of the company’s stock.

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.