CMS Energy (NYSE:CMS) Price Target Cut to $63.00 by Analysts at JPMorgan Chase & Co.

CMS Energy (NYSE:CMS) had its target price decreased by research analysts at JPMorgan Chase & Co. from $70.00 to $63.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.37% from the company’s current price.

A number of other equities research analysts also recently commented on CMS. Wells Fargo & Co reissued a “buy” rating on shares of CMS Energy in a research report on Monday, December 9th. Goldman Sachs Group raised shares of CMS Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $68.00 in a research report on Wednesday, January 15th. Credit Suisse Group downgraded shares of CMS Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 17th. Barclays dropped their price objective on shares of CMS Energy from $67.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Vertical Research started coverage on shares of CMS Energy in a research report on Monday, February 24th. They issued a “buy” rating and a $76.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $64.62.

Shares of NYSE:CMS traded up $3.76 during trading hours on Thursday, reaching $57.08. The stock had a trading volume of 131,759 shares, compared to its average volume of 4,046,449. CMS Energy has a 1 year low of $46.03 and a 1 year high of $69.17. The firm’s 50 day moving average is $64.03 and its 200-day moving average is $63.32. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.64 and a current ratio of 0.86. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 2.72 and a beta of 0.28.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.01). CMS Energy had a net margin of 9.93% and a return on equity of 14.28%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts forecast that CMS Energy will post 2.67 EPS for the current year.

In related news, Director John G. Russell sold 5,600 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.46, for a total value of $349,776.00. Following the transaction, the director now directly owns 195,711 shares of the company’s stock, valued at approximately $12,224,109.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.52% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CMS. CNB Bank purchased a new stake in shares of CMS Energy during the fourth quarter worth about $26,000. Rockefeller Capital Management L.P. grew its holdings in shares of CMS Energy by 86.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 467 shares of the utilities provider’s stock worth $29,000 after buying an additional 217 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of CMS Energy during the fourth quarter worth about $35,000. Gradient Investments LLC grew its holdings in shares of CMS Energy by 37.9% during the fourth quarter. Gradient Investments LLC now owns 597 shares of the utilities provider’s stock worth $38,000 after buying an additional 164 shares in the last quarter. Finally, TFG Advisers LLC purchased a new stake in shares of CMS Energy during the fourth quarter worth about $39,000. 92.78% 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 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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