CMS Energy (NYSE:CMS) Given New $76.00 Price Target at BMO Capital Markets

CMS Energy (NYSE:CMS) had its target price reduced by equities research analysts at BMO Capital Markets from $77.00 to $76.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 9.83% from the company’s current price.

Other analysts have also issued reports about the stock. KeyCorp boosted their target price on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Wells Fargo & Company boosted their price objective on shares of CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank raised their target price on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Guggenheim boosted their price target on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Seven 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Stock Performance

NYSE:CMS traded down $0.41 during trading hours on Friday, reaching $69.20. The company had a trading volume of 752,489 shares, compared to its average volume of 2,246,565. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.79 and a beta of 0.41. 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 firm’s 50 day moving average price is $69.78 and its 200-day moving average price is $64.54. CMS Energy has a 52 week low of $54.13 and a 52 week high of $72.40.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. CMS Energy’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, analysts forecast that CMS Energy will post 3.33 EPS for the current year.

Institutional Trading of CMS Energy

Large investors have recently made changes to their positions in the business. TruNorth Capital Management LLC increased its stake in CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 578 shares during the last quarter. Headlands Technologies LLC bought a new stake in CMS Energy in the first quarter worth $43,000. Innealta Capital LLC bought a new position in CMS Energy during the second quarter valued at $43,000. Values First Advisors Inc. bought a new position in CMS Energy during the third quarter valued at $56,000. Finally, Voisard Asset Management Group Inc. raised its stake in shares of CMS Energy by 25.7% in the third quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 163 shares during the period. 93.57% of the stock is currently owned by institutional investors.

CMS Energy Company Profile

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.