CMS Energy (NYSE:CMS) Given New $59.00 Price Target at Barclays

CMS Energy (NYSE:CMS) had its price target upped by Barclays from $57.00 to $59.00 in a report issued on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

A number of other research analysts also recently commented on the stock. KeyCorp upped 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. Scotiabank cut their price target on shares of CMS Energy from $67.00 to $66.00 and set a sector outperform rating on the stock in a research note on Monday, April 22nd. Guggenheim raised shares of CMS Energy from a neutral rating to a buy rating and boosted their price objective for the company from $60.00 to $64.00 in a research note on Friday, February 2nd. UBS Group lowered CMS Energy from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their target price on CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $63.50.

CMS Energy Stock Performance

Shares of CMS opened at $60.61 on Tuesday. CMS Energy has a 1 year low of $49.87 and a 1 year high of $63.76. The company’s 50 day simple moving average is $58.89 and its 200 day simple moving average is $57.57. The company has a market capitalization of $18.10 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.31 and a beta of 0.38. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.05 and a current ratio of 1.35.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 EPS. On average, sell-side analysts predict that CMS Energy will post 3.32 EPS for the current year.

CMS Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s dividend payout ratio is presently 62.80%.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the sale, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at approximately $3,985,144.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in CMS Energy by 4.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 10,379 shares of the utilities provider’s stock valued at $551,000 after purchasing an additional 449 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of CMS Energy by 3.0% during the third quarter. Commonwealth Equity Services LLC now owns 69,060 shares of the utilities provider’s stock worth $3,668,000 after buying an additional 1,998 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of CMS Energy in the third quarter worth $36,000. Xponance Inc. raised its holdings in CMS Energy by 5.1% in the third quarter. Xponance Inc. now owns 39,297 shares of the utilities provider’s stock valued at $2,087,000 after acquiring an additional 1,917 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in CMS Energy by 6.2% during the 3rd quarter. Raymond James & Associates now owns 417,111 shares of the utilities provider’s stock valued at $22,153,000 after acquiring an additional 24,527 shares during the last quarter. 93.57% of the stock is owned by hedge funds and other 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.