CMS Energy (NYSE:CMS) Price Target Cut to $66.00 by Analysts at Scotiabank

CMS Energy (NYSE:CMS) had its price objective decreased by Scotiabank from $67.00 to $66.00 in a research report sent to investors on Monday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the utilities provider’s stock.

A number of other equities analysts have also commented on CMS. UBS Group lowered shares of 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. JPMorgan Chase & Co. lifted their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a report on Wednesday, March 13th. Wolfe Research raised shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 price objective on the stock in a report on Tuesday, January 16th. Barclays cut their price objective on shares of CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a report on Monday, April 15th. Finally, KeyCorp lifted their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $63.00.

CMS Energy Stock Performance

Shares of NYSE:CMS opened at $60.00 on Monday. The firm has a market cap of $17.92 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38. The firm’s 50 day simple moving average is $58.50 and its 200-day simple moving average is $57.29. CMS Energy has a one year low of $49.87 and a one year high of $63.76. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. As a group, equities analysts predict that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.43%. CMS Energy’s dividend payout ratio (DPR) is 68.44%.

Insider Buying and Selling at CMS Energy

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

Institutional Investors Weigh In On CMS Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headinvest LLC acquired a new stake in shares of CMS Energy during the third quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in shares of CMS Energy during the fourth quarter worth $29,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of CMS Energy during the third quarter worth $36,000. Voisard Asset Management Group Inc. acquired a new stake in shares of CMS Energy during the fourth quarter worth $36,000. Finally, Tobam lifted its stake in shares of CMS Energy by 2,432.3% during the fourth quarter. Tobam now owns 785 shares of the utilities provider’s stock worth $46,000 after buying an additional 754 shares during the period. 93.57% of the stock is currently 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.