Brokerages Set CMS Energy Co. (NYSE:CMS) Target Price at $68.83

Shares of CMS Energy Co. (NYSE:CMS) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $69.38.

CMS has been the topic of several analyst reports. Evercore ISI upgraded shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Mizuho raised their price target on shares of CMS Energy from $65.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday. Bank of America raised their price target on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Guggenheim raised their price target on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Institutional Trading of CMS Energy

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its holdings in CMS Energy by 48,203.8% during the first quarter. Lazard Asset Management LLC now owns 50,719 shares of the utilities provider’s stock worth $3,059,000 after buying an additional 50,614 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in CMS Energy by 16.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,451 shares of the utilities provider’s stock worth $21,267,000 after buying an additional 49,630 shares in the last quarter. Duality Advisers LP boosted its stake in CMS Energy by 1,854.4% in the 1st quarter. Duality Advisers LP now owns 114,193 shares of the utilities provider’s stock worth $6,890,000 after purchasing an additional 108,350 shares during the period. Viking Fund Management LLC purchased a new position in CMS Energy during the 1st quarter worth approximately $2,655,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in CMS Energy by 56.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,719 shares of the utilities provider’s stock worth $4,511,000 after purchasing an additional 27,053 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors.

CMS Energy Price Performance

CMS opened at $71.14 on Tuesday. The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. CMS Energy has a fifty-two week low of $50.70 and a fifty-two week high of $71.57. The company’s 50-day moving average price is $67.83 and its 200 day moving average price is $62.95. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. CMS Energy’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. As a group, sell-side analysts expect that CMS Energy 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. Investors of record on Friday, August 2nd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, August 2nd. CMS Energy’s payout ratio is 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.