CMS Energy (NYSE:CMS) Reaches New 1-Year High Following Analyst Upgrade

by · The Markets Daily

CMS Energy Co. (NYSE:CMS – Get Free Report) shares hit a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $65.00 to $76.00. Mizuho currently has an outperform rating on the stock. CMS Energy traded as high as $71.06 and last traded at $71.06, with a volume of 150343 shares trading hands. The stock had previously closed at $70.63.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Barclays increased their price target on CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 13th. KeyCorp lifted their price target on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday. Scotiabank raised 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 report on Tuesday, August 20th. Finally, Morgan Stanley boosted their price target on shares of CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, CMS Energy has an average rating of “Moderate Buy” and an average target price of $69.38.

View Our Latest Stock Report on CMS Energy

Hedge Funds Weigh In On CMS Energy

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

CMS Energy Trading Up 0.3 %

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 stock has a market capitalization of $21.28 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. The stock has a 50-day moving average price of $67.67 and a two-hundred day moving average price of $62.89.

CMS Energy (NYSE:CMS – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business earned $0.75 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts forecast that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

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

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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