CMS Energy (NYSE:CMS) PT Raised to $73.00

CMS Energy (NYSE:CMS) had its price target upped by KeyCorp from $68.00 to $73.00 in a research note issued to investors on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

A number of other analysts have also recently commented on CMS. Barclays boosted their price target on CMS Energy from $60.00 to $65.00 and gave the stock an equal weight rating in a research report on Tuesday, August 13th. StockNews.com raised CMS Energy from a sell rating to a hold rating in a research note on Monday, July 29th. Bank of America lifted their price target on CMS Energy from $69.00 to $73.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Morgan Stanley increased their price objective on shares of CMS Energy from $60.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, August 23rd. Finally, Guggenheim lifted their target price on shares of CMS Energy from $66.00 to $67.00 and gave the stock a buy rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $67.75.

CMS Energy Price Performance

CMS opened at $70.48 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company has a market cap of $21.05 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.75 and a beta of 0.40. The stock has a fifty day simple moving average of $65.46 and a two-hundred day simple moving average of $61.99. CMS Energy has a 12-month low of $49.87 and a 12-month high of $70.64.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the business earned $0.75 EPS. CMS Energy’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts predict that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Friday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is presently 62.80%.

Hedge Funds Weigh In On CMS Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in shares of CMS Energy in the fourth quarter worth $29,000. Voisard Asset Management Group Inc. bought a new stake in shares of CMS Energy during the 4th quarter valued at about $36,000. TruNorth Capital Management LLC increased its position in shares of CMS Energy by 431.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of CMS Energy in the 1st quarter worth approximately $43,000. Finally, Innealta Capital LLC purchased a new position in shares of CMS Energy in the second quarter worth approximately $43,000. 93.57% of the stock is owned by institutional investors.

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.