Morgan Stanley Boosts CMS Energy (NYSE:CMS) Price Target to $68.00

CMS Energy (NYSE:CMS) had its target price raised by Morgan Stanley from $63.00 to $68.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 2.76% from the stock’s previous close.

A number of other research firms also recently commented on CMS. Scotiabank upped their price objective on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Evercore ISI upgraded CMS Energy to a “hold” rating in a report on Friday, July 26th. Guggenheim boosted their target price on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Barclays boosted their target price on CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.17.

CMS Energy Price Performance

CMS stock traded down $0.15 during trading on Wednesday, hitting $69.93. The stock had a trading volume of 605,498 shares, compared to its average volume of 2,310,421. The company’s 50 day moving average price is $66.62 and its two-hundred day moving average price is $62.43. CMS Energy has a 1-year low of $49.87 and a 1-year high of $70.95. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. 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 posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that CMS Energy will post 3.33 EPS for the current fiscal year.

Hedge Funds Weigh In On CMS Energy

A number of institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in shares of CMS Energy in the 2nd quarter valued at approximately $1,539,000. Cetera Investment Advisers raised its position in shares of CMS Energy by 6.2% during the 2nd quarter. Cetera Investment Advisers now owns 27,850 shares of the utilities provider’s stock valued at $1,658,000 after acquiring an additional 1,631 shares in the last quarter. Advisory Alpha LLC raised its position in shares of CMS Energy by 15.3% during the 2nd quarter. Advisory Alpha LLC now owns 6,619 shares of the utilities provider’s stock valued at $394,000 after acquiring an additional 878 shares in the last quarter. Truist Financial Corp raised its position in shares of CMS Energy by 29.9% during the 2nd quarter. Truist Financial Corp now owns 735,233 shares of the utilities provider’s stock valued at $43,768,000 after acquiring an additional 169,160 shares in the last quarter. Finally, Quarry LP raised its position in shares of CMS Energy by 118.0% during the 2nd quarter. Quarry LP now owns 3,325 shares of the utilities provider’s stock valued at $198,000 after acquiring an additional 1,800 shares in the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

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.