CMS Energy (NYSE:CMS) PT Lowered to $66.00

CMS Energy (NYSE:CMS) had its price target reduced by Scotiabank from $67.00 to $66.00 in a research note published on Monday, Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

A number of other brokerages have also issued reports on CMS. Barclays dropped their price target on shares of CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a research note on Monday, April 15th. BMO Capital Markets upped their target price on shares of CMS Energy from $63.00 to $64.00 and gave the stock an outperform rating in a research report on Wednesday, April 17th. KeyCorp upped their target price on shares of CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Royal Bank of Canada lowered their target price on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Monday, March 4th. Finally, UBS Group lowered shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $63.00.

CMS Energy Trading Up 0.3 %

Shares of CMS Energy stock opened at $60.49 on Monday. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84. The company’s 50-day simple moving average is $58.72 and its 200-day simple moving average is $57.38. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.32 and a beta of 0.38.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that CMS Energy will post 3.33 earnings per share for the current year.

CMS Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Tuesday, May 14th. CMS Energy’s payout ratio is 68.44%.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the transaction, the senior vice president now owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CMS Energy

Large investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its position in shares of CMS Energy by 68.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock worth $3,721,000 after acquiring an additional 26,034 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of CMS Energy by 49.9% in the third quarter. Epoch Investment Partners Inc. now owns 302,221 shares of the utilities provider’s stock worth $16,051,000 after acquiring an additional 100,618 shares in the last quarter. New England Asset Management Inc. increased its position in shares of CMS Energy by 38.8% in the third quarter. New England Asset Management Inc. now owns 132,950 shares of the utilities provider’s stock worth $7,061,000 after acquiring an additional 37,147 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of CMS Energy in the fourth quarter worth $4,390,000. Finally, Illinois Municipal Retirement Fund increased its position in shares of CMS Energy by 3.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 203,564 shares of the utilities provider’s stock worth $11,821,000 after acquiring an additional 7,188 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

About CMS Energy

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.