CMS Energy (NYSE:CMS) Price Target Raised to $68.00

CMS Energy (NYSE:CMS) had its price target lifted by Morgan Stanley from $63.00 to $68.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other research firms also recently issued reports on CMS. Barclays lifted their price target on CMS Energy from $60.00 to $65.00 and gave the stock an equal weight rating in a research note on Tuesday, August 13th. Guggenheim upped their price target on shares of CMS Energy from $66.00 to $67.00 and gave the company a buy rating in a report on Friday, July 26th. Wells Fargo & Company increased 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. KeyCorp lifted their price objective on CMS Energy from $68.00 to $73.00 and gave the stock an overweight rating in a research report on Monday, September 16th. Finally, Evercore ISI upgraded CMS Energy to a hold rating in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $68.17.

CMS Energy Stock Up 0.7 %

Shares of NYSE CMS opened at $70.43 on Wednesday. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. CMS Energy has a 52 week low of $49.87 and a 52 week high of $71.02. The firm has a 50-day moving average price of $67.12 and a 200 day moving average price of $62.60. 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 posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $1.61 billion during 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 company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Equities research analysts anticipate that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, August 2nd. CMS Energy’s payout ratio is currently 62.80%.

Institutional Investors Weigh In On CMS Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMS. Sanctuary Advisors LLC purchased a new stake in shares of CMS Energy during the 2nd quarter worth about $1,539,000. Cetera Investment Advisers lifted its position in CMS Energy by 6.2% during the second quarter. Cetera Investment Advisers now owns 27,850 shares of the utilities provider’s stock valued at $1,658,000 after buying an additional 1,631 shares in the last quarter. Advisory Alpha LLC grew its stake in CMS Energy by 15.3% during the second quarter. Advisory Alpha LLC now owns 6,619 shares of the utilities provider’s stock worth $394,000 after buying an additional 878 shares during the period. Truist Financial Corp increased its position in shares of CMS Energy by 29.9% in the second quarter. Truist Financial Corp now owns 735,233 shares of the utilities provider’s stock worth $43,768,000 after acquiring an additional 169,160 shares in the last quarter. Finally, Quarry LP raised its stake in shares of CMS Energy by 118.0% in the 2nd quarter. Quarry LP now owns 3,325 shares of the utilities provider’s stock valued at $198,000 after acquiring an additional 1,800 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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.