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

CMS Energy Co. (NYSE:CMS) hit a new 52-week high during trading on Monday after KeyCorp raised their price target on the stock from $68.00 to $73.00. KeyCorp currently has an overweight rating on the stock. CMS Energy traded as high as $70.64 and last traded at $70.36, with a volume of 100017 shares trading hands. The stock had previously closed at $70.09.

Several other analysts have also commented on the stock. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Barclays increased their target price on CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. Evercore ISI raised CMS Energy to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company upped their price objective on CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Morgan Stanley lifted their price objective on CMS Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.75.

Hedge Funds Weigh In On CMS Energy

Several institutional investors and hedge funds have recently bought and sold shares of CMS. Scarborough Advisors LLC purchased a new stake in CMS Energy during the fourth quarter valued at about $29,000. Voisard Asset Management Group Inc. acquired a new position in CMS Energy during the fourth quarter valued at approximately $36,000. TruNorth Capital Management LLC grew its stake in CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after buying an additional 578 shares during the period. Headlands Technologies LLC purchased a new stake in CMS Energy during the first quarter worth approximately $43,000. Finally, Innealta Capital LLC acquired a new stake in shares of CMS Energy in the second quarter worth $43,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

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 firm has a market cap of $21.05 billion, a PE ratio of 21.49, a P/E/G ratio of 2.75 and a beta of 0.40. The stock’s 50 day moving average price is $65.46 and its 200 day moving average price is $61.99.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company posted $0.75 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts forecast 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. Stockholders of record on Friday, August 2nd were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. CMS Energy’s dividend payout ratio is presently 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.