CMS Energy (NYSE:CMS) Price Target Raised to $76.00

by · The Markets Daily

CMS Energy (NYSE:CMS – Free Report) had its target price upped by KeyCorp from $73.00 to $76.00 in a report released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other analysts have also weighed in on CMS. Evercore ISI upgraded CMS Energy to a hold rating in a research note on Friday, July 26th. StockNews.com upgraded shares of CMS Energy from a sell rating to a hold rating in a research report on Monday, July 29th. Morgan Stanley upped their target price on shares of CMS Energy from $63.00 to $68.00 and gave the stock an equal weight rating in a research report on Wednesday, September 25th. Guggenheim raised their price target on shares of CMS Energy from $66.00 to $67.00 and gave the company a buy rating in a report on Friday, July 26th. Finally, Bank of America boosted their price objective 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $69.38.

View Our Latest Report on CMS Energy

CMS Energy Stock Up 0.3 %

CMS opened at $71.25 on Monday. The firm has a market cap of $21.28 billion, a price-to-earnings ratio of 21.72, a PEG 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. The firm’s 50-day simple moving average is $67.67 and its 200-day simple moving average is $62.89. CMS Energy has a twelve month low of $49.87 and a twelve month high of $71.48.

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

CMS Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Friday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is currently 62.80%.

Institutional Trading of CMS Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC grew its holdings in CMS Energy by 48,203.8% during the first quarter. Lazard Asset Management LLC now owns 50,719 shares of the utilities provider’s stock valued at $3,059,000 after purchasing an additional 50,614 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of CMS Energy by 16.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,451 shares of the utilities provider’s stock valued at $21,267,000 after buying an additional 49,630 shares in the last quarter. Duality Advisers LP increased its position in shares of CMS Energy by 1,854.4% in the 1st quarter. Duality Advisers LP now owns 114,193 shares of the utilities provider’s stock valued at $6,890,000 after buying an additional 108,350 shares in the last quarter. Viking Fund Management LLC acquired a new stake in CMS Energy during the 1st quarter worth $2,655,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in CMS Energy by 56.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,719 shares of the utilities provider’s stock worth $4,511,000 after acquiring an additional 27,053 shares in the last quarter. 93.57% of the stock is owned by institutional investors.

CMS Energy Company Profile

(Get Free Report)

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.

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