Argus set a $66.00 price objective on CMS Energy (NYSE:CMS) in a research report sent to investors on Monday morning, TipRanks reports. The firm currently has a buy rating on the utilities provider’s stock.
Several other analysts have also issued reports on CMS. KeyCorp started coverage on shares of CMS Energy in a research report on Tuesday, June 4th. They issued a sector weight rating on the stock. Morgan Stanley lifted their target price on shares of CMS Energy from $56.00 to $57.00 and gave the company an equal weight rating in a research report on Thursday, May 16th. Zacks Investment Research upgraded shares of CMS Energy from a sell rating to a hold rating and set a $62.00 target price on the stock in a research report on Tuesday, July 23rd. Credit Suisse Group set a $58.00 target price on shares of CMS Energy and gave the company a buy rating in a research report on Monday, April 22nd. Finally, Barclays reiterated a hold rating and issued a $61.00 target price on shares of CMS Energy in a research report on Thursday, June 20th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $56.69.
Shares of NYSE CMS opened at $61.27 on Monday. The company’s 50-day simple moving average is $58.80 and its 200-day simple moving average is $56.15. CMS Energy has a 52-week low of $47.63 and a 52-week high of $61.46. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 3.76 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 (NYSE:CMS) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.11). CMS Energy had a net margin of 8.41% and a return on equity of 12.13%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $0.48 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that CMS Energy will post 2.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be given a dividend of $0.3825 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.53 dividend on an annualized basis and a yield of 2.50%. CMS Energy’s payout ratio is presently 65.67%.
In related news, insider Catherine A. Hendrian sold 1,753 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $56.96, for a total transaction of $99,850.88. Following the transaction, the insider now directly owns 37,567 shares in the company, valued at $2,139,816.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian F. Rich sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $59.70, for a total transaction of $238,800.00. The disclosure for this sale can be found here. Insiders have sold 50,453 shares of company stock worth $2,995,335 over the last 90 days. 0.52% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in CMS Energy by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 3,737,438 shares of the utilities provider’s stock valued at $185,237,000 after purchasing an additional 253,498 shares in the last quarter. FMR LLC raised its position in CMS Energy by 15.7% during the fourth quarter. FMR LLC now owns 734,509 shares of the utilities provider’s stock valued at $36,467,000 after purchasing an additional 99,511 shares in the last quarter. Dimensional Fund Advisors LP raised its position in CMS Energy by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 808,962 shares of the utilities provider’s stock valued at $40,162,000 after purchasing an additional 54,937 shares in the last quarter. Virtu Financial LLC purchased a new stake in CMS Energy during the first quarter valued at about $458,000. Finally, Raymond James Trust N.A. raised its position in CMS Energy by 10.4% during the first quarter. Raymond James Trust N.A. now owns 4,917 shares of the utilities provider’s stock valued at $273,000 after purchasing an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.
About CMS Energy
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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