Wells Fargo & Company Increases CMS Energy (NYSE:CMS) Price Target to $70.00

CMS Energy (NYSE:CMS) had its price target lifted by Wells Fargo & Company from $66.00 to $70.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

CMS has been the topic of a number of other research reports. BMO Capital Markets increased their price objective on CMS Energy from $68.00 to $71.00 and gave the company an outperform rating in a report on Tuesday, May 14th. Morgan Stanley lowered their price objective on CMS Energy from $61.00 to $58.00 and set an equal weight rating on the stock in a report on Monday, June 24th. KeyCorp raised their target price on CMS Energy from $66.00 to $68.00 and gave the company an overweight rating in a report on Monday, May 20th. Scotiabank lowered their target price on CMS Energy from $67.00 to $66.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. Finally, UBS Group lowered CMS Energy from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $65.00.

CMS Energy Stock Performance

Shares of CMS stock opened at $63.66 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. CMS Energy has a fifty-two week low of $49.87 and a fifty-two week high of $64.28. The stock’s 50-day moving average is $60.68 and its two-hundred day moving average is $59.48. The firm has a market cap of $19.02 billion, a P/E ratio of 19.41, a PEG ratio of 2.50 and a beta of 0.38.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $0.75 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Analysts predict that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.20%. CMS Energy’s dividend payout ratio is currently 62.80%.

Insider Buying and Selling

In related news, SVP Brian F. Rich sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the transaction, the senior vice president now owns 97,682 shares in the company, valued at approximately $5,968,370.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Brian F. Rich sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the transaction, the senior vice president now owns 97,682 shares in the company, valued at approximately $5,968,370.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jon E. Barfield sold 2,360 shares of CMS Energy stock in a transaction on Friday, June 7th. The shares were sold at an average price of $60.79, for a total value of $143,464.40. Following the completion of the transaction, the director now owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The disclosure for this sale can be found here. Insiders sold 6,027 shares of company stock worth $365,651 in the last 90 days. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CMS Energy

Institutional investors have recently bought and sold shares of the business. Scarborough Advisors LLC bought a new position in CMS Energy in the 4th quarter valued at $29,000. Voisard Asset Management Group Inc. bought a new position in CMS Energy in the 4th quarter valued at $36,000. TruNorth Capital Management LLC increased its stake in shares of CMS Energy by 431.3% in the 2nd 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 during the period. Headlands Technologies LLC bought a new stake in shares of CMS Energy during the first quarter worth $43,000. Finally, Innealta Capital LLC bought a new position in CMS Energy in the second quarter valued at about $43,000. 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.