Bank of America Raises CMS Energy (NYSE:CMS) Price Target to $80.00

CMS Energy (NYSE:CMS) had its target price increased by equities researchers at Bank of America from $73.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Bank of America‘s price target would indicate a potential upside of 10.99% from the company’s previous close.

Other research analysts also recently issued reports about the company. UBS Group upped their price objective on CMS Energy from $77.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Scotiabank upped their target price on CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Guggenheim reissued a “neutral” rating and set a $69.00 target price on shares of CMS Energy in a research note on Friday, February 7th. Finally, BMO Capital Markets upped their price objective on shares of CMS Energy from $73.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.36.

CMS Energy Stock Down 1.4 %

Shares of CMS Energy stock opened at $72.08 on Monday. The company has a market capitalization of $21.54 billion, a PE ratio of 21.71, a P/E/G ratio of 2.56 and a beta of 0.35. CMS Energy has a 1-year low of $56.61 and a 1-year high of $75.06. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.79 and a quick ratio of 0.57. The business has a 50-day moving average of $70.11 and a 200-day moving average of $69.18.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.01. CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. As a group, equities analysts forecast that CMS Energy will post 3.59 EPS for the current fiscal year.

Insider Activity

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $73.77, for a total value of $147,540.00. Following the transaction, the senior vice president now owns 71,931 shares of the company’s stock, valued at approximately $5,306,349.87. This trade represents a 2.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Scott B. Mcintosh sold 6,700 shares of CMS Energy stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $69.76, for a total transaction of $467,392.00. Following the sale, the chief accounting officer now directly owns 21,643 shares of the company’s stock, valued at $1,509,815.68. This represents a 23.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,200 shares of company stock worth $789,532. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMS. BankPlus Trust Department acquired a new position in CMS Energy in the fourth quarter valued at about $29,000. First Horizon Advisors Inc. boosted its stake in shares of CMS Energy by 171.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock worth $31,000 after buying an additional 275 shares during the last quarter. Richardson Financial Services Inc. grew its stake in CMS Energy by 106.8% in the fourth quarter. Richardson Financial Services Inc. now owns 455 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 235 shares in the last quarter. Brooklyn Investment Group bought a new stake in CMS Energy during the third quarter worth $40,000. Finally, Larson Financial Group LLC grew its holdings in CMS Energy by 2,900.0% during the fourth quarter. Larson Financial Group LLC now owns 720 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 696 shares during the period. Institutional investors 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.