CMS Energy (NYSE:CMS) Trading Up 0.3% on Analyst Upgrade

CMS Energy Co. (NYSE:CMS)’s stock price rose 0.3% during trading on Friday after Bank of America raised their price target on the stock from $69.00 to $73.00. Bank of America currently has a buy rating on the stock. CMS Energy traded as high as $68.04 and last traded at $67.84. Approximately 121,897 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 2,297,807 shares. The stock had previously closed at $67.67.

A number of other equities analysts have also issued reports on the stock. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research report on Friday, July 26th. BMO Capital Markets boosted their target price on shares of CMS Energy from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Morgan Stanley boosted their target price on shares of CMS Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Barclays boosted their target price on shares of CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company boosted their target price on shares of CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.33.

Insider Buying and Selling at CMS Energy

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

Institutional Investors Weigh In On CMS Energy

Several institutional investors and hedge funds have recently made changes to their positions in CMS. Mackenzie Financial Corp lifted its position in CMS Energy by 0.6% during the 2nd quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider’s stock worth $1,511,000 after buying an additional 157 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in CMS Energy by 30.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 785 shares of the utilities provider’s stock worth $46,000 after buying an additional 185 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in CMS Energy by 0.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 20,607 shares of the utilities provider’s stock worth $1,228,000 after buying an additional 192 shares in the last quarter. Continuum Advisory LLC lifted its position in CMS Energy by 9.6% during the 2nd quarter. Continuum Advisory LLC now owns 2,330 shares of the utilities provider’s stock worth $139,000 after buying an additional 205 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in CMS Energy by 6.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,767 shares of the utilities provider’s stock worth $224,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

CMS Energy Trading Up 0.2 %

The company’s 50-day moving average is $63.30 and its 200-day moving average is $61.01. The firm has a market cap of $20.26 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 2.64 and a beta of 0.38. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18.

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. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, research analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 3.01%. CMS Energy’s payout ratio is presently 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.