Mizuho Cuts CMS Energy (NYSE:CMS) Price Target to $64.00

CMS Energy (NYSE:CMS) had its price objective dropped by equities researchers at Mizuho from $65.00 to $64.00 in a report issued on Wednesday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the utilities provider’s stock. Mizuho’s target price would indicate a potential upside of 6.24% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Seaport Global Securities reaffirmed a “neutral” rating on shares of CMS Energy in a research note on Tuesday, April 13th. TheStreet raised CMS Energy from a “c+” rating to a “b” rating in a research note on Thursday, April 8th. Credit Suisse Group increased their price target on CMS Energy from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley decreased their price target on CMS Energy from $66.00 to $64.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Barclays increased their price target on CMS Energy from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $67.00.

NYSE:CMS opened at $60.24 on Wednesday. The stock has a fifty day simple moving average of $62.99. CMS Energy has a 1 year low of $53.19 and a 1 year high of $67.98. The company has a market capitalization of $17.44 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 3.29 and a beta of 0.18. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.73 and a current ratio of 0.87.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, April 29th. The utilities provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.04. CMS Energy had a return on equity of 14.74% and a net margin of 12.48%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts expect that CMS Energy will post 2.88 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Private Capital Group LLC lifted its stake in CMS Energy by 241.3% in the 1st quarter. Private Capital Group LLC now owns 430 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 304 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in CMS Energy in the 1st quarter worth about $31,000. Reby Advisors LLC purchased a new stake in CMS Energy in the 4th quarter worth about $31,000. Regal Wealth Group Inc. purchased a new stake in shares of CMS Energy during the 1st quarter worth about $35,000. Finally, Vantage Consulting Group Inc purchased a new stake in shares of CMS Energy during the 4th quarter worth about $41,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

About CMS Energy

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through four segments: Electric Utility, Gas Utility, Enterprises, and EnerBank. 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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