CMS Energy Co. (NYSE:CMS) Increases Dividend to $0.52 Per Share

CMS Energy Co. (NYSE:CMS) announced a quarterly dividend on Monday, October 21st, RTT News reports. Stockholders of record on Wednesday, November 13th will be given a dividend of 0.515 per share by the utilities provider on Wednesday, November 27th. This represents a $2.06 annualized dividend and a dividend yield of 2.89%. This is a boost from CMS Energy’s previous quarterly dividend of $0.51.

CMS Energy has a payout ratio of 57.4% meaning its dividend is sufficiently covered by earnings. Analysts expect CMS Energy to earn $3.61 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 57.1%.

CMS Energy Stock Down 0.2 %

Shares of CMS opened at $71.17 on Tuesday. The company has a market capitalization of $21.25 billion, a P/E ratio of 21.70, a PEG ratio of 2.77 and a beta of 0.41. CMS Energy has a one year low of $52.12 and a one year high of $71.57. The business’s 50 day simple moving average is $69.10 and its 200-day simple moving average is $63.94. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that CMS Energy will post 3.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank increased their price target on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America lifted their target price on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Mizuho downgraded CMS Energy from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $76.00 to $72.00 in a research report on Tuesday, October 15th. Morgan Stanley raised their price target on CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Barclays boosted their price objective on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, CMS Energy presently has a consensus rating of “Moderate Buy” and an average target price of $69.85.

About CMS Energy

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.