Brokerages Set CMS Energy Co. (NYSE:CMS) Target Price at $69.85

Shares of CMS Energy Co. (NYSE:CMS) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $69.85.

A number of brokerages have weighed in on CMS. Scotiabank increased their price target on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their target price on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Evercore ISI upgraded CMS Energy to a “hold” rating in a report on Friday, July 26th. KeyCorp lifted their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Bank of America boosted their target price on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th.

Hedge Funds Weigh In On CMS Energy

A number of hedge funds have recently made changes to their positions in CMS. Lazard Asset Management LLC boosted its position in shares of 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 acquiring 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 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,451 shares of the utilities provider’s stock worth $21,267,000 after buying an additional 49,630 shares in the last quarter. Duality Advisers LP grew its stake 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 worth $6,890,000 after buying an additional 108,350 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of CMS Energy by 79.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 731,887 shares of the utilities provider’s stock valued at $43,569,000 after acquiring an additional 325,101 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Performance

Shares of CMS stock opened at $71.16 on Friday. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.77 and a beta of 0.41. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The business’s 50-day moving average price is $69.61 and its 200-day moving average price is $64.38. CMS Energy has a 12 month low of $53.53 and a 12 month high of $72.40.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.06 annualized dividend and a dividend yield of 2.89%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

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.