CMS Energy (NYSE:CMS) Price Target Cut to $76.00 by Analysts at BMO Capital Markets

CMS Energy (NYSE:CMS) had its target price lowered by BMO Capital Markets from $77.00 to $76.00 in a research note issued to investors on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

CMS has been the topic of a number of other reports. Evercore ISI raised shares of CMS Energy to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company raised their price objective on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Mizuho downgraded shares of CMS Energy from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. Barclays boosted their price target on CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Scotiabank increased their price objective on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.85.

CMS Energy Stock Performance

NYSE CMS opened at $68.30 on Friday. The company has a fifty day moving average of $69.80 and a two-hundred day moving average of $64.72. The company has a market capitalization of $20.40 billion, a PE ratio of 19.51, a P/E/G ratio of 2.77 and a beta of 0.41. CMS Energy has a 1 year low of $54.13 and a 1 year high of $72.40. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.61 and a quick ratio of 0.87.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. As a group, analysts expect that CMS Energy will post 3.33 earnings per share for the current year.

CMS Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.515 dividend. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, November 13th. This represents a $2.06 annualized dividend and a yield of 3.02%. CMS Energy’s dividend payout ratio is presently 58.86%.

Institutional Investors Weigh In On CMS Energy

Several institutional investors have recently made changes to their positions in the stock. TruNorth Capital Management LLC lifted its stake in shares of CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares during the period. Headlands Technologies LLC purchased a new position in CMS Energy in the first quarter valued at about $43,000. Innealta Capital LLC purchased a new position in CMS Energy in the second quarter valued at about $43,000. Covestor Ltd lifted its position in shares of CMS Energy by 206.1% during the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 472 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of CMS Energy during the 3rd quarter worth approximately $56,000. 93.57% of the stock is currently 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 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.