CMS Energy (NYSE:CMS) had its target price cut by Morgan Stanley from $60.00 to $59.00 in a research report report published on Friday morning, AnalystRatings.com reports. They currently have an equal weight rating on the utilities provider’s stock.
CMS has been the topic of several other research reports. Zacks Investment Research raised CMS Energy from a sell rating to a hold rating and set a $62.00 price objective on the stock in a research report on Tuesday, July 23rd. KeyCorp began coverage on CMS Energy in a research report on Tuesday, June 4th. They issued a sector weight rating on the stock. Argus set a $66.00 price objective on CMS Energy and gave the company a buy rating in a research report on Monday, August 12th. Barclays reaffirmed a hold rating and issued a $61.00 price objective on shares of CMS Energy in a research report on Thursday, June 20th. Finally, Credit Suisse Group set a $58.00 price objective on CMS Energy and gave the company a buy rating in a research report on Monday, April 22nd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $57.33.
Shares of CMS Energy stock opened at $61.20 on Friday. The stock’s fifty day moving average is $58.88 and its two-hundred day moving average is $56.18. The company has a market capitalization of $17.39 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 3.84 and a beta of 0.15. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 2.32. CMS Energy has a 52 week low of $47.63 and a 52 week high of $61.47.
CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.11). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. CMS Energy had a net margin of 8.41% and a return on equity of 12.13%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. As a group, research analysts anticipate that CMS Energy will post 2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be given a dividend of $0.3825 per share. This represents a $1.53 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, August 1st. CMS Energy’s payout ratio is 65.67%.
In other news, insider Brian F. Rich sold 4,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $59.70, for a total transaction of $238,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John G. Russell sold 5,600 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $57.46, for a total value of $321,776.00. Following the transaction, the director now directly owns 296,311 shares in the company, valued at approximately $17,026,030.06. The disclosure for this sale can be found here. Insiders have sold a total of 50,453 shares of company stock worth $2,995,335 in the last three months. Corporate insiders own 0.52% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Stevens Capital Management LP purchased a new stake in shares of CMS Energy during the 1st quarter worth $4,603,000. Exchange Capital Management Inc. lifted its stake in shares of CMS Energy by 5.8% during the 2nd quarter. Exchange Capital Management Inc. now owns 73,409 shares of the utilities provider’s stock worth $4,251,000 after purchasing an additional 4,014 shares during the last quarter. Wetherby Asset Management Inc. purchased a new stake in shares of CMS Energy during the 1st quarter worth $223,000. Sigma Planning Corp lifted its stake in shares of CMS Energy by 1.5% during the 1st quarter. Sigma Planning Corp now owns 13,465 shares of the utilities provider’s stock worth $748,000 after purchasing an additional 197 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of CMS Energy by 17.6% during the 1st quarter. Toronto Dominion Bank now owns 184,178 shares of the utilities provider’s stock worth $10,227,000 after purchasing an additional 27,601 shares during the last quarter. 91.90% of the stock is currently owned by institutional investors and hedge funds.
CMS Energy Company Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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