CMS Energy (NYSE:CMS) Reaches New 12-Month High on Analyst Upgrade

CMS Energy Co. (NYSE:CMS) shares hit a new 52-week high during mid-day trading on Tuesday after Mizuho raised their price target on the stock from $65.00 to $76.00. Mizuho currently has an outperform rating on the stock. CMS Energy traded as high as $71.06 and last traded at $71.06, with a volume of 150343 shares traded. The stock had previously closed at $70.63.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Scotiabank raised their price objective on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. KeyCorp upped their target price on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America increased their price target on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Morgan Stanley raised their price target on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.38.

Hedge Funds Weigh In On CMS Energy

Several institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted 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 valued at $1,367,483,000 after acquiring an additional 2,786,071 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in CMS Energy by 101.7% during the second 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 in the last quarter. Capital International Investors grew its stake in CMS Energy by 24.8% in the fourth quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock valued at $360,537,000 after purchasing an additional 1,234,791 shares during the last quarter. Capital Research Global Investors lifted its position in shares of CMS Energy by 1.2% during the fourth quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider’s stock valued at $324,817,000 after buying an additional 65,966 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of CMS Energy by 320.9% in 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 valued at $250,026,000 after buying an additional 3,282,697 shares in the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

CMS Energy Stock Performance

The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The stock has a market cap of $21.32 billion, a PE ratio of 21.59, a P/E/G ratio of 2.80 and a beta of 0.40. The business’s 50-day moving average price is $67.31 and its 200-day moving average price is $62.74.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. 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 company earned $0.75 earnings per share. As a group, equities research analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders 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 annualized dividend and a dividend yield of 2.86%. CMS Energy’s dividend payout ratio (DPR) is currently 62.80%.

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.