CMS Energy (NYSE:CMS) Price Target Raised to $73.00

CMS Energy (NYSE:CMS) had its price objective upped by KeyCorp from $68.00 to $73.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

CMS has been the subject of a number of other reports. Scotiabank upped their target price 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. Wells Fargo & Company lifted 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. Barclays raised their target price on shares of CMS Energy from $60.00 to $65.00 and gave the stock an equal weight rating in a research note on Tuesday, August 13th. Bank of America upped their price target on shares of CMS Energy from $69.00 to $73.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Finally, Morgan Stanley upped their target price on shares of CMS Energy from $60.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $67.75.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $70.00 on Monday. The business has a fifty day moving average price of $65.90 and a 200-day moving average price of $62.13. The company has a market capitalization of $20.90 billion, a PE ratio of 21.34, a PEG ratio of 2.75 and a beta of 0.40. CMS Energy has a 1-year low of $49.87 and a 1-year high of $70.74. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87.

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

CMS Energy Cuts Dividend

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

Hedge Funds Weigh In On CMS Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of CMS Energy by 14.0% during the first quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after acquiring an additional 2,786,071 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of 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 buying an additional 3,473,977 shares during the period. Capital International Investors lifted 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 worth $360,537,000 after acquiring an additional 1,234,791 shares during the period. Capital Research Global Investors grew its holdings in CMS Energy by 1.2% during the 4th quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider’s stock worth $324,817,000 after acquiring an additional 65,966 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased 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 valued at $250,026,000 after purchasing an additional 3,282,697 shares during the period. Hedge funds and other 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.