CMS Energy (NYSE:CMS) Price Target Cut to $66.00 by Analysts at Scotiabank

CMS Energy (NYSE:CMS) had its target price cut by Scotiabank from $67.00 to $66.00 in a research note published on Monday, Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

Several other analysts also recently issued reports on the stock. BMO Capital Markets upped their price target on shares of CMS Energy from $63.00 to $64.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Royal Bank of Canada lowered their price target on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Monday, March 4th. UBS Group lowered shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 price target on the stock. in a research report on Thursday, April 4th. KeyCorp increased their price target on shares of CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a research report on Friday, April 19th. Finally, Barclays lowered their price target on shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $63.00.

CMS Energy Stock Up 0.6 %

CMS stock opened at $60.28 on Monday. The company has a market cap of $18.00 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.33 and a beta of 0.38. CMS Energy has a 52 week low of $49.87 and a 52 week high of $63.76. The company’s 50-day moving average price is $58.65 and its 200 day moving average price is $57.36. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm’s revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, research analysts expect that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, May 14th. CMS Energy’s payout ratio is 68.44%.

Insider Activity at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

A number of large investors have recently bought and sold shares of the stock. Capital International Investors raised its stake in CMS Energy by 24.8% during the fourth quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock worth $360,537,000 after purchasing an additional 1,234,791 shares during the period. Capital Research Global Investors raised its stake in CMS Energy by 1.2% during the fourth quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider’s stock worth $324,817,000 after purchasing an additional 65,966 shares during the period. Invesco Ltd. raised its stake in CMS Energy by 7.3% during the third quarter. Invesco Ltd. now owns 4,663,108 shares of the utilities provider’s stock worth $247,658,000 after purchasing an additional 317,682 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in CMS Energy by 320.9% during the fourth 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 raised its stake in 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 worth $200,731,000 after purchasing an additional 883,180 shares during the period. Hedge funds and other 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.