BMO Capital Markets Raises CMS Energy (NYSE:CMS) Price Target to $68.00

CMS Energy (NYSE:CMS) had its price target upped by BMO Capital Markets from $67.00 to $68.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 13.96% from the stock’s previous close.

Several other research analysts also recently weighed in on CMS. Barclays reduced their target price on CMS Energy from $58.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th. Scotiabank reduced their target price on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a research note on Monday. Royal Bank of Canada reduced their target price on CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Seaport Res Ptn cut CMS Energy from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, Guggenheim upgraded CMS Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $64.00 in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

CMS Energy Stock Performance

NYSE:CMS traded down $0.81 during trading hours on Friday, reaching $59.67. The company had a trading volume of 1,016,579 shares, compared to its average volume of 2,496,890. CMS Energy has a 1-year low of $49.87 and a 1-year high of $63.76. The firm has a market cap of $17.82 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.34 and a beta of 0.38. The business’s 50 day moving average price is $58.72 and its 200-day moving average price is $57.38. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.32 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. CMS Energy’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. Research analysts forecast that CMS Energy will post 3.33 EPS for the current year.

Insider Buying and Selling at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the transaction, the senior vice president now directly owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CMS Energy

A number of hedge funds have recently modified their holdings of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in CMS Energy by 320.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock worth $250,026,000 after acquiring an additional 3,282,697 shares in the last quarter. Norges Bank purchased a new position in shares of CMS Energy in the 4th quarter valued at about $111,004,000. American Century Companies Inc. boosted its stake in shares of CMS Energy by 6,027.8% in the 3rd quarter. American Century Companies Inc. now owns 1,740,776 shares of the utilities provider’s stock valued at $92,453,000 after buying an additional 1,712,368 shares during the period. Capital International Investors boosted its stake in shares of CMS Energy by 24.8% in the 4th quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock valued at $360,537,000 after buying an additional 1,234,791 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of CMS Energy by 34.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,456,713 shares of the utilities provider’s stock valued at $200,731,000 after buying an additional 883,180 shares during the period. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

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.