CMS Energy (NYSE:CMS) PT Lowered to $66.00

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

Several other analysts have also recently commented on CMS. KeyCorp raised their price target on shares of CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a report on Friday, April 19th. Barclays decreased their price target on shares of CMS Energy from $58.00 to $57.00 and set an equal weight rating for the company in a report on Monday, April 15th. Guggenheim upgraded shares of CMS Energy from a neutral rating to a buy rating and raised their price target for the stock from $60.00 to $64.00 in a report on Friday, February 2nd. Seaport Res Ptn cut shares of CMS Energy from a buy rating to a neutral rating in a report on Monday, January 8th. Finally, Wolfe Research upgraded shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 price target for the company in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $63.00.

CMS Energy Stock Performance

Shares of CMS opened at $60.49 on Monday. CMS Energy has a one year low of $49.87 and a one year high of $63.76. The company has a 50-day moving average of $58.72 and a two-hundred day moving average of $57.38. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.32 and a beta of 0.38. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, April 25th. The utilities provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts expect that CMS Energy will post 3.33 earnings per share for the current year.

CMS Energy Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s dividend payout ratio (DPR) is presently 68.44%.

Insider Buying and Selling at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy 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 transaction, the senior vice president now owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

A number of institutional investors have recently modified their holdings of the company. Strategy Asset Managers LLC raised its position in shares of CMS Energy by 9.5% in the first quarter. Strategy Asset Managers LLC now owns 4,445 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 387 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in CMS Energy by 1.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,952 shares of the utilities provider’s stock worth $3,618,000 after acquiring an additional 581 shares during the period. Simplicity Wealth LLC bought a new position in CMS Energy during the first quarter worth $594,000. Spire Wealth Management increased its position in CMS Energy by 32.6% during the first quarter. Spire Wealth Management now owns 2,678 shares of the utilities provider’s stock worth $162,000 after acquiring an additional 658 shares during the period. Finally, Aquila Investment Management LLC increased its position in CMS Energy by 200.0% during the first quarter. Aquila Investment Management LLC now owns 30,000 shares of the utilities provider’s stock worth $1,810,000 after acquiring an additional 20,000 shares during the period. Institutional investors 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.