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

CMS Energy (NYSE:CMS) had its price objective raised by investment analysts at BMO Capital Markets from $67.00 to $68.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target points to a potential upside of 13.96% from the stock’s previous close.

A number of other equities analysts have also commented on CMS. Royal Bank of Canada dropped their price objective on CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Scotiabank dropped their price objective on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research note on Monday. Wolfe Research upgraded CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Tuesday, January 16th. Barclays lowered their price target on CMS Energy from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. Finally, KeyCorp boosted their price target on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One equities 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.33.

CMS Energy Stock Down 1.3 %

NYSE CMS traded down $0.81 during trading on Friday, hitting $59.67. 1,016,579 shares of the company traded hands, compared to its average volume of 2,496,890. CMS Energy has a 12 month low of $49.87 and a 12 month high of $63.76. The business has a fifty day simple moving average of $58.72 and a 200 day simple moving average of $57.38. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $17.82 billion, a P/E ratio of 19.81, a PEG ratio of 2.34 and a beta of 0.38.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The firm’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. As a group, sell-side analysts predict 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 business’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $3,985,144.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC raised its position in CMS Energy by 4.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 10,379 shares of the utilities provider’s stock worth $551,000 after purchasing an additional 449 shares during the last quarter. Advisory Alpha LLC bought a new position in CMS Energy in the 3rd quarter worth approximately $269,000. Czech National Bank raised its position in CMS Energy by 47.7% in the 3rd quarter. Czech National Bank now owns 50,987 shares of the utilities provider’s stock worth $2,708,000 after purchasing an additional 16,461 shares during the last quarter. Ballentine Partners LLC raised its position in CMS Energy by 11.2% in the 3rd quarter. Ballentine Partners LLC now owns 4,450 shares of the utilities provider’s stock worth $236,000 after purchasing an additional 448 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in CMS Energy by 3.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 69,060 shares of the utilities provider’s stock worth $3,668,000 after purchasing an additional 1,998 shares during the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

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.