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

CMS Energy (NYSE:CMS) had its target price raised by Wells Fargo & Company from $70.00 to $77.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Barclays upped their target price on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday. Mizuho lowered 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 report on Tuesday. KeyCorp upped their price target on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Guggenheim lifted their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Evercore ISI raised shares of CMS Energy to a “hold” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CMS Energy has an average rating of “Moderate Buy” and an average target price of $69.85.

CMS Energy Stock Up 0.4 %

Shares of NYSE CMS opened at $71.29 on Wednesday. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.77 and a beta of 0.41. CMS Energy has a 1 year low of $52.12 and a 1 year high of $71.57. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The stock’s 50-day simple moving average is $68.99 and its 200-day simple moving average is $63.79.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. CMS Energy’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. As a group, equities analysts anticipate that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, August 2nd. CMS Energy’s payout ratio is currently 62.80%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CMS. Scarborough Advisors LLC bought a new position in CMS Energy in the 4th quarter valued at about $29,000. TruNorth Capital Management LLC increased its stake in shares of CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 578 shares during the period. Headlands Technologies LLC bought a new stake in CMS Energy during the first quarter worth approximately $43,000. Innealta Capital LLC bought a new position in CMS Energy during the 2nd quarter valued at $43,000. Finally, Tobam raised its stake in shares of CMS Energy by 31.7% in the 3rd quarter. Tobam now owns 868 shares of the utilities provider’s stock worth $61,000 after buying an additional 209 shares in the last quarter. 93.57% of the stock is 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.