KeyCorp Increases CMS Energy (NYSE:CMS) Price Target to $73.00

CMS Energy (NYSE:CMS) had its price target hoisted by stock analysts at KeyCorp from $68.00 to $73.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective suggests a potential upside of 4.15% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Morgan Stanley raised their target price on CMS Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Evercore ISI upgraded CMS Energy to a “hold” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Guggenheim boosted their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, CMS Energy presently has an average rating of “Moderate Buy” and an average target price of $67.75.

CMS Energy Price Performance

Shares of NYSE CMS opened at $70.09 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The stock has a fifty day simple moving average of $65.22 and a two-hundred day simple moving average of $61.90. CMS Energy has a 1-year low of $49.87 and a 1-year high of $70.12. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 2.75 and a beta of 0.40.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 EPS. Analysts anticipate that CMS Energy will post 3.33 earnings per share for the current year.

Hedge Funds Weigh In On CMS Energy

Several institutional investors have recently modified their holdings of CMS. Scarborough Advisors LLC purchased a new stake in CMS Energy in the fourth quarter worth approximately $29,000. Voisard Asset Management Group Inc. purchased a new stake in shares of CMS Energy in the 4th quarter valued at $36,000. TruNorth Capital Management LLC grew its holdings in shares of CMS Energy by 431.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of CMS Energy during the 1st quarter valued at $43,000. Finally, Innealta Capital LLC bought a new stake in CMS Energy in the second quarter worth $43,000. 93.57% of the stock is currently owned by institutional investors.

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.