Argus set a $66.00 price target on CMS Energy (NYSE:CMS) in a research note published on Monday, TipRanks reports. The firm currently has a buy rating on the utilities provider’s stock.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of CMS Energy from a sell rating to a hold rating and set a $62.00 price target on the stock in a research note on Tuesday, July 23rd. KeyCorp initiated coverage on shares of CMS Energy in a report on Tuesday, June 4th. They issued a sector weight rating for the company. Barclays reaffirmed a hold rating and issued a $61.00 price target on shares of CMS Energy in a report on Thursday, June 20th. Morgan Stanley lifted their price target on shares of CMS Energy from $56.00 to $57.00 and gave the company an equal weight rating in a report on Thursday, May 16th. Finally, Credit Suisse Group set a $58.00 price target on shares of CMS Energy and gave the company a buy rating in a report on Monday, April 22nd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $56.69.
Shares of CMS stock traded down $0.32 during mid-day trading on Monday, reaching $59.77. The company’s stock had a trading volume of 2,107,057 shares, compared to its average volume of 2,131,165. The firm’s 50 day moving average is $58.72. CMS Energy has a 12-month low of $47.63 and a 12-month high of $60.76. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.94 and a quick ratio of 0.71. The stock has a market cap of $17.01 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 3.78 and a beta of 0.15.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be paid a dividend of $0.3825 per share. This represents a $1.53 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, August 1st. CMS Energy’s payout ratio is 65.67%.
In other CMS Energy news, Director John G. Russell sold 33,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $60.04, for a total transaction of $2,011,340.00. Following the completion of the transaction, the director now directly owns 257,211 shares of the company’s stock, valued at approximately $15,442,948.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian F. Rich sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $59.70, for a total transaction of $238,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,453 shares of company stock valued at $2,995,335 over the last three months. 0.52% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Advisors Preferred LLC bought a new stake in shares of CMS Energy during the 2nd quarter worth about $25,000. Krane Funds Advisors LLC purchased a new position in shares of CMS Energy in the second quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of CMS Energy in the second quarter worth approximately $26,000. Blue Sky Asset Management LLC purchased a new position in shares of CMS Energy in the first quarter worth approximately $38,000. Finally, Advisory Services Network LLC purchased a new position in shares of CMS Energy in the second quarter worth approximately $43,000. 92.00% 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 in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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