CMS Energy (NYSE:CMS) Given New $57.00 Price Target at Barclays

CMS Energy (NYSE:CMS) had its price target lowered by Barclays from $58.00 to $57.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a research report on Wednesday, March 13th. UBS Group downgraded 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. Guggenheim raised shares of CMS Energy from a neutral rating to a buy rating and increased their target price for the company from $60.00 to $64.00 in a research report on Friday, February 2nd. Royal Bank of Canada lowered their price objective on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Monday, March 4th. Finally, BMO Capital Markets lowered their price objective on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Monday, March 4th. One investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $62.64.

CMS Energy Price Performance

Shares of CMS opened at $58.48 on Monday. CMS Energy has a twelve month low of $49.87 and a twelve month high of $63.76. The firm’s fifty day simple moving average is $58.37 and its 200-day simple moving average is $57.10. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.21 and a beta of 0.38. 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 (NYSE:CMS) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the business earned $0.60 EPS. The company’s revenue was down 14.4% on a year-over-year basis. Equities analysts forecast that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Monday, February 12th were issued a $0.515 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.06 annualized dividend and a dividend yield of 3.52%. CMS Energy’s payout ratio is presently 68.44%.

Insider Activity at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’s stock in a transaction dated 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 owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

Institutional Trading of CMS Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in CMS Energy by 5.1% during the first quarter. State Street Corp now owns 17,323,536 shares of the utilities provider’s stock worth $1,063,319,000 after acquiring an additional 844,330 shares during the last quarter. Wells Fargo & Company MN grew its holdings in CMS Energy by 1.3% in the second quarter. Wells Fargo & Company MN now owns 6,327,495 shares of the utilities provider’s stock valued at $371,740,000 after purchasing an additional 82,454 shares during the period. Geode Capital Management LLC grew its holdings in CMS Energy by 2.0% in the first quarter. Geode Capital Management LLC now owns 6,285,926 shares of the utilities provider’s stock valued at $384,994,000 after purchasing an additional 124,854 shares during the period. Capital International Investors grew its holdings in CMS Energy by 24.8% in the fourth quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock valued at $360,537,000 after purchasing an additional 1,234,791 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in CMS Energy by 22.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,992,116 shares of the utilities provider’s stock valued at $367,797,000 after purchasing an additional 1,095,342 shares during the period. Institutional investors and hedge funds own 93.57% of the company’s stock.

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.