CMS Energy (NYSE:CMS) Price Target Raised to $77.00

CMS Energy (NYSE:CMS) had its target price lifted by Scotiabank from $75.00 to $77.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the utilities provider’s stock.

Other analysts have also issued reports about the company. Wells Fargo & Company boosted their price objective on CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of CMS Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. KeyCorp raised their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Barclays increased their target price on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Bank of America boosted their price target 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.36.

CMS Energy Trading Up 0.4 %

Shares of CMS Energy stock opened at $67.32 on Thursday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23. The stock has a market capitalization of $20.11 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.66 and a beta of 0.41. CMS Energy has a 52-week low of $55.10 and a 52-week high of $72.40. The stock’s 50-day simple moving average is $69.13 and its 200 day simple moving average is $66.13.

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

CMS Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.515 per share. The ex-dividend date was Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 3.06%. CMS Energy’s dividend payout ratio is 58.86%.

Insider Buying and Selling

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of CMS Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $68.17, for a total value of $136,340.00. Following the transaction, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Scott B. Mcintosh sold 936 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $68.50, for a total value of $64,116.00. Following the completion of the sale, the chief accounting officer now directly owns 24,417 shares of the company’s stock, valued at approximately $1,672,564.50. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CMS Energy

A number of large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its holdings in shares of CMS Energy by 0.6% in the second quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider’s stock worth $1,511,000 after purchasing an additional 157 shares during the last quarter. Voisard Asset Management Group Inc. grew its holdings in CMS Energy by 25.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 163 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of CMS Energy by 5.4% in the third quarter. OneDigital Investment Advisors LLC now owns 3,625 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 187 shares during the period. Horizon Kinetics Asset Management LLC raised its stake in shares of CMS Energy by 1.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 15,675 shares of the utilities provider’s stock valued at $1,107,000 after acquiring an additional 200 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in shares of CMS Energy by 25.6% during the third quarter. Private Trust Co. NA now owns 982 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 200 shares during the period. 93.57% of the stock is owned by hedge funds and other institutional investors.

CMS Energy Company Profile

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.