KeyCorp Increases CMS Energy (NYSE:CMS) Price Target to $66.00

CMS Energy (NYSE:CMS) had its price objective lifted by KeyCorp from $65.00 to $66.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a report on Wednesday, March 13th. Guggenheim upgraded shares of CMS Energy from a neutral rating to a buy rating and increased their price objective for the company from $60.00 to $64.00 in a research report on Friday, February 2nd. Royal Bank of Canada reduced their target price on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a report on Monday, March 4th. UBS Group lowered CMS Energy from a buy rating to a neutral rating and set a $65.00 price target for the company. in a research report on Thursday, April 4th. Finally, Barclays decreased their price objective on CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $63.00.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $60.00 on Friday. The company has a market capitalization of $17.92 billion, a P/E ratio of 19.93, a P/E/G ratio of 2.31 and a beta of 0.38. CMS Energy has a 1-year low of $49.87 and a 1-year high of $63.76. The firm’s 50 day simple moving average is $58.50 and its two-hundred day simple moving average is $57.29. 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 released its earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the business posted $0.60 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis. Research analysts expect that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.43%. CMS Energy’s dividend payout ratio (DPR) is presently 68.44%.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the transaction, the senior vice president now directly owns 68,971 shares in the company, valued at $3,985,144.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital International Investors grew its position in shares of CMS Energy by 24.8% during the 4th quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock worth $360,537,000 after buying an additional 1,234,791 shares in the last quarter. Capital Research Global Investors increased its position in CMS Energy by 1.2% during the 4th quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider’s stock valued at $324,817,000 after purchasing an additional 65,966 shares during the period. Invesco Ltd. raised its holdings in shares of CMS Energy by 7.3% in the 3rd quarter. Invesco Ltd. now owns 4,663,108 shares of the utilities provider’s stock valued at $247,658,000 after purchasing an additional 317,682 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of CMS Energy by 320.9% in 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 purchasing an additional 3,282,697 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of CMS Energy by 34.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,456,713 shares of the utilities provider’s stock valued at $200,731,000 after purchasing an additional 883,180 shares in the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

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.