CMS Energy (NYSE:CMS) Given New $76.00 Price Target at KeyCorp

CMS Energy (NYSE:CMS) had its price target raised by KeyCorp from $73.00 to $76.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages have also weighed in on CMS. Barclays raised their price objective on CMS Energy from $60.00 to $65.00 and gave the company an equal weight rating in a research report on Tuesday, August 13th. StockNews.com raised CMS Energy from a sell rating to a hold rating in a research note on Monday, July 29th. Evercore ISI upgraded CMS Energy to a hold rating in a research report on Friday, July 26th. Scotiabank boosted their price target on shares of CMS Energy from $66.00 to $75.00 and gave the stock a sector outperform rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price objective on shares of CMS Energy from $66.00 to $70.00 and gave the company an overweight rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $68.83.

CMS Energy Stock Performance

NYSE CMS opened at $70.60 on Monday. The business has a 50-day moving average price of $67.31 and a 200-day moving average price of $62.74. The firm has a market cap of $21.08 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. CMS Energy has a twelve month low of $49.87 and a twelve month high of $71.02. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80.

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

CMS Energy Cuts Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.89%. CMS Energy’s dividend payout ratio (DPR) is presently 62.80%.

Institutional Investors Weigh In On CMS Energy

Several hedge funds and other institutional investors have recently modified their holdings of CMS. Orion Portfolio Solutions LLC grew its position in CMS Energy by 0.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 20,607 shares of the utilities provider’s stock valued at $1,228,000 after acquiring an additional 192 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of CMS Energy by 19.8% during the fourth quarter. Parallel Advisors LLC now owns 1,458 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 241 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in CMS Energy by 4.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 23,987 shares of the utilities provider’s stock valued at $1,393,000 after buying an additional 995 shares during the period. TFO Wealth Partners LLC raised its stake in CMS Energy by 2,591.1% in the fourth quarter. TFO Wealth Partners LLC now owns 2,126 shares of the utilities provider’s stock worth $123,000 after buying an additional 2,047 shares in the last quarter. Finally, APG Asset Management US Inc. bought a new position in CMS Energy in the fourth quarter worth approximately $2,200,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

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.