CMS Energy (NYSE:CMS) Shares Up 0.8% After Analyst Upgrade

CMS Energy Co. (NYSE:CMS)’s share price traded up 0.8% during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from $66.00 to $75.00. Scotiabank currently has a sector outperform rating on the stock. CMS Energy traded as high as $67.10 and last traded at $67.04. 236,374 shares were traded during mid-day trading, a decline of 90% from the average session volume of 2,338,527 shares. The stock had previously closed at $66.53.

CMS has been the subject of a number of other reports. Barclays raised their price objective on shares of CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 13th. Wells Fargo & Company boosted their price target on shares of CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. KeyCorp boosted their target price on CMS Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Finally, Guggenheim raised their price target on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.36.

Insiders Place Their Bets

In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of CMS Energy stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction of $143,464.40. Following the transaction, the director now directly owns 14,556 shares of the company’s stock, valued at $884,859.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Brandon J. Hofmeister sold 1,667 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now owns 68,330 shares of the company’s stock, valued at approximately $4,098,433.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jon E. Barfield sold 2,360 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.79, for a total value of $143,464.40. Following the transaction, the director now owns 14,556 shares in the company, valued at $884,859.24. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Institutional Trading of CMS Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised 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 valued at $1,367,483,000 after buying an additional 2,786,071 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of CMS Energy by 101.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after acquiring an additional 3,473,977 shares during the last quarter. Capital International Investors boosted its holdings in shares of CMS Energy by 24.8% during the fourth 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. Capital Research Global Investors grew its stake in shares of CMS Energy by 1.2% in the fourth quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider’s stock worth $324,817,000 after purchasing an additional 65,966 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of CMS Energy by 320.9% in the fourth 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 purchasing an additional 3,282,697 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Performance

The business has a fifty day moving average of $62.02 and a 200-day moving average of $60.45. The company has a market cap of $19.93 billion, a PE ratio of 20.34, a P/E/G ratio of 2.64 and a beta of 0.38. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The business 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 $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, August 2nd. CMS Energy’s dividend payout ratio is currently 62.80%.

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.