Brokerages Set CMS Energy Co. (NYSE:CMS) Target Price at $62.64

CMS Energy Co. (NYSE:CMS) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $62.55.

Several brokerages have recently weighed in on CMS. Royal Bank of Canada lowered their target price on 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 report on Tuesday, January 16th. Seaport Res Ptn cut CMS Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Guggenheim upgraded CMS Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $64.00 in a report on Friday, February 2nd. Finally, Barclays lowered their target price on CMS Energy from $58.00 to $57.00 and set an “equal weight” rating on the stock in a report on Monday.

Insider Activity at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total value of $202,230.00. Following the sale, the senior vice president now owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Institutional Trading of CMS Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headinvest LLC purchased a new stake in CMS Energy in the third quarter valued at approximately $26,000. Covington Capital Management purchased a new stake in CMS Energy in the third quarter valued at approximately $27,000. Scarborough Advisors LLC purchased a new stake in shares of CMS Energy during the fourth quarter worth $29,000. American National Bank increased its position in shares of CMS Energy by 1,213.6% during the third quarter. American National Bank now owns 578 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 534 shares during the period. Finally, Clear Street Markets LLC increased its position in shares of CMS Energy by 94.9% during the first quarter. Clear Street Markets LLC now owns 573 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Trading Down 0.1 %

CMS stock opened at $57.61 on Tuesday. 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 has a 12-month low of $49.87 and a 12-month high of $63.76. The stock has a market cap of $17.20 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.23 and a beta of 0.38. The business’s 50-day moving average is $58.28 and its 200 day moving average is $57.06.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data 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. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the firm posted $0.60 EPS. CMS Energy’s revenue was down 14.4% compared to the same quarter last year. On average, sell-side analysts anticipate that CMS Energy will post 3.34 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Monday, February 12th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 9th. This is a boost from CMS Energy’s previous quarterly dividend of $0.49. This represents a $2.06 dividend on an annualized basis and a yield of 3.58%. CMS Energy’s dividend payout ratio is currently 68.44%.

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.