KeyCorp Increases CMS Energy (NYSE:CMS) Price Target to $68.00

CMS Energy (NYSE:CMS) had its target price raised by KeyCorp from $66.00 to $68.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other analysts have also recently issued reports on CMS. Royal Bank of Canada decreased their target price 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. Scotiabank dropped their target price on CMS Energy from $67.00 to $66.00 and set a sector outperform rating for the company in a report on Monday, April 22nd. Barclays boosted their target price on CMS Energy from $57.00 to $59.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Guggenheim upgraded 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 research report on Friday, February 2nd. Finally, UBS Group cut shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 price objective on the stock. in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, CMS Energy presently has an average rating of Moderate Buy and a consensus target price of $63.92.

CMS Energy Stock Performance

NYSE CMS opened at $60.88 on Monday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.35 and a quick ratio of 1.05. CMS Energy has a 1-year low of $49.87 and a 1-year high of $63.76. The business has a 50 day simple moving average of $60.17 and a two-hundred day simple moving average of $58.47. The stock has a market capitalization of $18.14 billion, a PE ratio of 18.56, a P/E/G ratio of 2.49 and a beta of 0.37.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. CMS Energy’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. On average, research analysts predict that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.515 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.06 annualized dividend and a yield of 3.38%. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

Insiders Place Their Bets

In other news, SVP Brian F. Rich sold 2,000 shares of CMS Energy stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the sale, the senior vice president now owns 97,682 shares of the company’s stock, valued at $5,968,370.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of CMS Energy by 320.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock worth $250,026,000 after buying an additional 3,282,697 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in CMS Energy by 14.0% during the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after acquiring an additional 2,786,071 shares in the last quarter. Norges Bank purchased a new position in CMS Energy during the 4th quarter valued at about $111,004,000. American Century Companies Inc. raised its holdings in shares of CMS Energy by 6,027.8% in the 3rd quarter. American Century Companies Inc. now owns 1,740,776 shares of the utilities provider’s stock valued at $92,453,000 after purchasing an additional 1,712,368 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of CMS Energy by 24.8% in the 4th quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock worth $360,537,000 after purchasing an additional 1,234,791 shares during the period. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

CMS Energy Company Profile

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.