CMS Energy (NYSE:CMS) Sets New 12-Month High at $70.95

CMS Energy Co. (NYSE:CMS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $70.95 and last traded at $70.52, with a volume of 389310 shares traded. The stock had previously closed at $70.29.

Analysts Set New Price Targets

CMS has been the subject of several analyst reports. Barclays raised their target price on CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 13th. Wells Fargo & Company raised their target price on CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America lifted their price objective on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Evercore ISI raised CMS Energy to a “hold” rating in a research report on Friday, July 26th. Finally, Scotiabank lifted their price objective on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.75.

CMS Energy Stock Performance

The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 2.75 and a beta of 0.40. 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 company has a 50 day moving average price of $66.44 and a 200 day moving average price of $62.36.

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

CMS Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.51 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. CMS Energy’s payout ratio is 62.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMS. Scarborough Advisors LLC purchased a new position in CMS Energy in the fourth quarter worth $29,000. Voisard Asset Management Group Inc. bought a new position in shares of CMS Energy during the fourth quarter valued at about $36,000. TruNorth Capital Management LLC raised its stake in shares of CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 578 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of CMS Energy during the first quarter valued at about $43,000. Finally, Innealta Capital LLC bought a new position in shares of CMS Energy during the second quarter valued at about $43,000. 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.