Morgan Stanley Cuts CMS Energy (NYSE:CMS) Price Target to $67.00

CMS Energy (NYSE:CMS) had its price objective dropped by equities researchers at Morgan Stanley from $69.00 to $67.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 3.60% from the company’s previous close.

CMS has been the topic of several other research reports. Evercore ISI upgraded CMS Energy to a “hold” rating in a report on Friday, July 26th. BMO Capital Markets cut their price target on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company increased their price target on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. StockNews.com lowered CMS Energy from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Scotiabank increased their price objective on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.21.

CMS Energy Trading Up 0.4 %

Shares of CMS Energy stock traded up $0.29 on Friday, hitting $69.50. 261,073 shares of the company’s stock traded hands, compared to its average volume of 2,267,068. CMS Energy has a one year low of $55.10 and a one year high of $72.40. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83. The company has a fifty day moving average of $69.73 and a two-hundred day moving average of $65.42. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.73 and a beta of 0.41.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 EPS. As a group, sell-side analysts expect that CMS Energy will post 3.33 earnings per share for the current year.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $68.17, for a total value of $136,340.00. Following the sale, the senior vice president now directly owns 64,771 shares of the company’s stock, valued at $4,415,439.07. The trade was a 3.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Trading of CMS Energy

A number of hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its position in shares of CMS Energy by 0.6% in the 2nd 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. Voisard Asset Management Group Inc. raised its holdings in CMS Energy by 25.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 163 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in CMS Energy by 5.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,625 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 187 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in CMS Energy by 1.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 15,675 shares of the utilities provider’s stock worth $1,107,000 after acquiring an additional 200 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in CMS Energy by 25.6% in the 3rd quarter. Private Trust Co. NA now owns 982 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 200 shares during the last quarter. 93.57% of the stock is owned by 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.