CMS Energy (NYSE:CMS) PT Lowered to $59.00

CMS Energy (NYSE:CMS) had its target price trimmed by Morgan Stanley from $60.00 to $59.00 in a research note published on Friday morning, AnalystRatings.com reports. The firm currently has an equal weight rating on the utilities provider’s stock.

Several other equities analysts also recently commented on CMS. Barclays reaffirmed a hold rating and issued a $61.00 target price on shares of CMS Energy in a research report on Thursday, June 20th. Argus set a $66.00 target price on CMS Energy and gave the company a buy rating in a research report on Monday, August 12th. Zacks Investment Research raised CMS Energy from a sell rating to a hold rating and set a $62.00 target price on the stock in a research report on Tuesday, July 23rd. Credit Suisse Group set a $58.00 target price on CMS Energy and gave the company a buy rating in a research report on Monday, April 22nd. Finally, KeyCorp began coverage on CMS Energy in a research report on Tuesday, June 4th. They issued a sector weight rating on the stock. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. CMS Energy presently has a consensus rating of Hold and a consensus price target of $57.33.

NYSE:CMS traded down $0.07 on Friday, hitting $61.20. The company’s stock had a trading volume of 2,019,300 shares, compared to its average volume of 1,939,831. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 2.32. The stock has a fifty day moving average of $58.88 and a two-hundred day moving average of $56.18. The firm has a market capitalization of $17.37 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 3.74 and a beta of 0.15. CMS Energy has a one year low of $47.63 and a one year high of $61.47.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.11). CMS Energy had a net margin of 8.41% and a return on equity of 12.13%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $0.48 EPS. CMS Energy’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that CMS Energy will post 2.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be issued a $0.3825 dividend. This represents a $1.53 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, August 1st. CMS Energy’s dividend payout ratio is presently 65.67%.

In other news, Director John G. Russell sold 33,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $60.04, for a total value of $2,011,340.00. Following the completion of the transaction, the director now directly owns 257,211 shares in the company, valued at approximately $15,442,948.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Catherine A. Hendrian sold 1,753 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $56.96, for a total value of $99,850.88. Following the completion of the transaction, the insider now owns 37,567 shares of the company’s stock, valued at $2,139,816.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,453 shares of company stock worth $2,995,335. Company insiders own 0.52% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CMS. Magnetar Financial LLC bought a new position in CMS Energy during the 2nd quarter worth $227,000. Scholtz & Company LLC bought a new position in CMS Energy during the 2nd quarter worth $1,873,000. UBS Group AG raised its position in CMS Energy by 87.0% during the 2nd quarter. UBS Group AG now owns 164,716 shares of the utilities provider’s stock worth $9,538,000 after purchasing an additional 76,634 shares during the last quarter. Verition Fund Management LLC bought a new position in CMS Energy during the 2nd quarter worth $10,598,000. Finally, MAI Capital Management raised its position in CMS Energy by 31.3% during the 2nd quarter. MAI Capital Management now owns 6,344 shares of the utilities provider’s stock worth $367,000 after purchasing an additional 1,514 shares during the last quarter. Institutional investors own 92.00% of the company’s stock.

About CMS Energy

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.

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Analyst Recommendations for CMS Energy (NYSE:CMS)

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