CMS Energy (NYSE:CMS) Price Target Increased to $66.00 by Analysts at KeyCorp

CMS Energy (NYSE:CMS) had its price objective boosted by KeyCorp from $65.00 to $66.00 in a research note issued to investors on Friday morning, Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reduced their price target 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. Barclays reduced their price target on shares of CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. Wolfe Research raised shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 target price on the stock in a research report on Tuesday, January 16th. UBS Group cut shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a research report on Thursday, April 4th. Finally, BMO Capital Markets boosted their target price on shares of CMS Energy from $63.00 to $64.00 and gave the stock an outperform rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $62.73.

CMS Energy Price Performance

CMS opened at $59.55 on Friday. The stock has a market capitalization of $17.78 billion, a PE ratio of 19.78, a P/E/G ratio of 2.27 and a beta of 0.38. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98. CMS Energy has a 1 year low of $49.87 and a 1 year high of $63.76. The company’s 50 day simple moving average is $58.44 and its 200 day simple moving average is $57.16.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. CMS Energy’s revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, sell-side analysts expect that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Monday, February 12th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Friday, February 9th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.49. CMS Energy’s payout ratio is 68.44%.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the completion of the sale, the senior vice president now owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Institutional Trading of CMS Energy

Several institutional investors have recently added to or reduced their stakes in CMS. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in CMS Energy by 320.9% during 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 valued at $250,026,000 after purchasing an additional 3,282,697 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in CMS Energy during the first quarter valued at $188,418,000. Norges Bank bought a new stake in CMS Energy during the fourth quarter valued at $111,004,000. Morgan Stanley increased its stake in CMS Energy by 75.0% during the fourth quarter. Morgan Stanley now owns 4,457,642 shares of the utilities provider’s stock valued at $282,303,000 after purchasing an additional 1,910,519 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in CMS Energy by 6,027.8% during the third 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 during the last quarter. Institutional investors own 93.57% of the company’s stock.

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.