CMS Energy (NYSE:CMS) Price Target Raised to $76.00

CMS Energy (NYSE:CMS) had its price target hoisted by equities researchers at Mizuho from $65.00 to $76.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target indicates a potential upside of 7.65% from the stock’s current price.

Other research analysts have also issued reports about the company. Wells Fargo & Company raised their price target on CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Guggenheim boosted their price target on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Scotiabank increased their price objective on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America boosted their target price on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Evercore ISI raised CMS Energy to a “hold” rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.38.

CMS Energy Stock Performance

Shares of CMS Energy stock opened at $70.60 on Tuesday. The firm has a market cap of $21.08 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. CMS Energy has a 1 year low of $49.87 and a 1 year high of $71.02. The firm’s 50-day simple moving average is $67.31 and its 200-day simple moving average is $62.74. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18.

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

Institutional Investors Weigh In On CMS Energy

Large investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after purchasing an additional 3,473,977 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in CMS Energy by 320.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock worth $250,026,000 after buying an additional 3,282,697 shares in the last quarter. JPMorgan Chase & Co. lifted its position in CMS Energy by 14.0% during the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after buying an additional 2,786,071 shares in the last quarter. Capital International Investors grew its holdings in CMS Energy by 24.8% during the 4th quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock worth $360,537,000 after acquiring an additional 1,234,791 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its position in CMS Energy by 105.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock valued at $92,623,000 after acquiring an additional 800,344 shares in the last quarter. 93.57% of the stock is currently 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.