CMS Energy Corporation (CMS) Price Target Raised to $50.00
CMS Energy Corporation (NYSE:CMS) had its target price upped by Morgan Stanley from $49.00 to $50.00 in a research report released on Friday morning. The firm currently has an equal weight rating on the utilities provider’s stock.
Other equities analysts have also recently issued reports about the stock. Credit Suisse Group raised shares of CMS Energy Corporation from a neutral rating to an outperform rating and lifted their target price for the company from $46.00 to $50.00 in a report on Monday, July 24th. BMO Capital Markets reaffirmed a buy rating and issued a $48.00 target price on shares of CMS Energy Corporation in a report on Monday, July 31st. BidaskClub raised shares of CMS Energy Corporation from a buy rating to a strong-buy rating in a report on Saturday, June 17th. Guggenheim assumed coverage on shares of CMS Energy Corporation in a report on Tuesday, September 5th. They issued a neutral rating and a $48.00 target price on the stock. Finally, KeyCorp reaffirmed a buy rating and issued a $51.00 target price on shares of CMS Energy Corporation in a report on Friday, September 1st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. CMS Energy Corporation presently has an average rating of Buy and an average price target of $48.20.
Shares of CMS Energy Corporation (CMS) opened at 48.66 on Friday. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 24.58 and a beta of 0.17. The stock has a 50 day moving average of $47.64 and a 200-day moving average of $46.19. CMS Energy Corporation has a 1-year low of $38.78 and a 1-year high of $48.91.
CMS Energy Corporation (NYSE:CMS) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by $0.08. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.36 billion. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 earnings per share. Equities analysts anticipate that CMS Energy Corporation will post $2.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 4th were paid a $0.3325 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.33 annualized dividend and a yield of 2.73%. CMS Energy Corporation’s dividend payout ratio is currently 66.83%.
In other CMS Energy Corporation news, insider Garrick J. Rochow sold 2,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $47.81, for a total transaction of $95,620.00. Following the sale, the insider now directly owns 64,307 shares in the company, valued at approximately $3,074,517.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jon E. Barfield sold 6,336 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $46.81, for a total transaction of $296,588.16. The disclosure for this sale can be found here. Insiders sold a total of 11,836 shares of company stock worth $561,118 over the last three months. 0.65% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CMS. Strs Ohio boosted its position in shares of CMS Energy Corporation by 14.1% during the 1st quarter. Strs Ohio now owns 59,535 shares of the utilities provider’s stock worth $2,663,000 after purchasing an additional 7,370 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of CMS Energy Corporation by 98.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,006,560 shares of the utilities provider’s stock worth $45,033,000 after purchasing an additional 499,284 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of CMS Energy Corporation by 0.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 220,821 shares of the utilities provider’s stock worth $9,867,000 after purchasing an additional 747 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of CMS Energy Corporation by 44.1% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 9,681 shares of the utilities provider’s stock worth $433,000 after purchasing an additional 2,961 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of CMS Energy Corporation during the 1st quarter worth $881,000. Institutional investors own 87.45% of the company’s stock.
CMS Energy Corporation Company Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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