CMS Energy (NYSE:CMS) Price Target Cut to $66.00

CMS Energy (NYSE:CMS) had its price target lowered by analysts at Scotiabank from $67.00 to $66.00 in a report issued on Monday, Benzinga reports. The firm currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price objective would indicate a potential upside of 10.18% from the company’s current price.

Several other research analysts have also commented on CMS. Royal Bank of Canada cut their price target on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. Wolfe Research upgraded CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 target price on the stock in a research note on Tuesday, January 16th. Seaport Res Ptn cut CMS Energy from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. KeyCorp lifted their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Barclays dropped their price target on shares of CMS Energy from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.00.

CMS Energy Price Performance

Shares of NYSE CMS opened at $59.90 on Monday. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.31 and a beta of 0.38. CMS Energy has a 52 week low of $49.87 and a 52 week high of $63.76. The company’s 50-day moving average price is $58.57 and its 200 day moving average price is $57.34. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. As a group, research analysts forecast that CMS Energy will post 3.33 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.78, for a total value of $202,230.00. Following the completion of the sale, the senior vice president now directly owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of CMS Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aquila Investment Management LLC increased its position in CMS Energy by 200.0% in the first quarter. Aquila Investment Management LLC now owns 30,000 shares of the utilities provider’s stock worth $1,810,000 after purchasing an additional 20,000 shares during the period. Venturi Wealth Management LLC boosted its holdings in CMS Energy by 1,464.5% during the first quarter. Venturi Wealth Management LLC now owns 1,189 shares of the utilities provider’s stock worth $72,000 after buying an additional 1,113 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in CMS Energy by 3.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 66,057 shares of the utilities provider’s stock worth $3,986,000 after buying an additional 1,985 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in CMS Energy by 1.5% during the first quarter. IFM Investors Pty Ltd now owns 98,898 shares of the utilities provider’s stock worth $5,968,000 after buying an additional 1,423 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in CMS Energy by 34.4% during the first quarter. First Trust Direct Indexing L.P. now owns 11,214 shares of the utilities provider’s stock worth $677,000 after buying an additional 2,872 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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.