CMS Energy (NYSE:CMS) Price Target Cut to $57.00

CMS Energy (NYSE:CMS) had its price target decreased by Barclays from $58.00 to $57.00 in a report published on Monday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group cut shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 target price for the company. in a research note on Thursday, April 4th. BMO Capital Markets reduced their target price on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating for the company in a research note on Monday, March 4th. JPMorgan Chase & Co. increased their target price on shares of CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a research note on Wednesday, March 13th. Guggenheim upgraded shares of CMS Energy from a neutral rating to a buy rating and raised their price target for the stock from $60.00 to $64.00 in a research note on Friday, February 2nd. Finally, Wolfe Research upgraded shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 price target for the company in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $62.64.

CMS Energy Trading Up 2.4 %

Shares of NYSE:CMS opened at $58.25 on Monday. The company has a market cap of $17.39 billion, a P/E ratio of 19.35, a P/E/G ratio of 2.23 and a beta of 0.38. The stock’s 50-day moving average is $58.32 and its 200-day moving average is $57.09. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. 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 (NYSE:CMS) last released its earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis. Equities research analysts predict that CMS Energy will post 3.33 earnings per share for the current year.

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Monday, February 12th were paid a $0.515 dividend. The ex-dividend date was Friday, February 9th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.54%. This is a boost from CMS Energy’s previous quarterly dividend of $0.49. CMS Energy’s payout ratio is 68.44%.

Insider Activity

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction that occurred 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 transaction, the senior vice president now owns 68,971 shares in the company, valued at $3,985,144.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Covington Capital Management acquired a new stake in shares of CMS Energy in the third quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new stake in shares of CMS Energy in the fourth quarter valued at approximately $29,000. Headinvest LLC acquired a new stake in shares of CMS Energy in the third quarter valued at approximately $26,000. Clear Street Markets LLC increased its holdings in shares of CMS Energy by 94.9% in the first quarter. Clear Street Markets LLC now owns 573 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 279 shares in the last quarter. Finally, American National Bank increased its holdings in shares of CMS Energy by 1,213.6% in the third quarter. American National Bank now owns 578 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.

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.