CMS Energy (NYSE:CMS) Reaches New 1-Year High at $69.69

CMS Energy Co. (NYSE:CMS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $69.69 and last traded at $69.62, with a volume of 462993 shares changing hands. The stock had previously closed at $69.12.

Wall Street Analysts Forecast Growth

CMS has been the subject of several recent research reports. KeyCorp upped their price target on CMS Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Evercore ISI upgraded shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. Guggenheim raised their target price on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Morgan Stanley increased their price objective on CMS Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company upped their price objective on shares of CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.33.

CMS Energy Trading Up 0.6 %

The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $20.76 billion, a P/E ratio of 21.17, a P/E/G ratio of 2.71 and a beta of 0.40. The stock’s 50 day moving average price is $64.37 and its 200-day moving average price is $61.55.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. CMS Energy’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. As a group, equities research analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. CMS Energy’s payout ratio is 62.80%.

Insider Buying and Selling at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 1,667 shares of CMS Energy stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the sale, the senior vice president now directly owns 68,330 shares of the company’s stock, valued at $4,098,433.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of CMS Energy

A number of large investors have recently modified their holdings of the stock. Scarborough Advisors LLC acquired a new position in shares of CMS Energy in the 4th quarter valued at $29,000. Voisard Asset Management Group Inc. purchased a new stake in shares of CMS Energy during the 4th quarter worth approximately $36,000. TruNorth Capital Management LLC increased its position in shares of CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares in the last quarter. Headlands Technologies LLC purchased a new position in CMS Energy during the 1st quarter valued at about $43,000. Finally, Innealta Capital LLC acquired a new position in shares of CMS Energy during the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

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.