CMS Energy (NYSE:CMS) Reaches New 52-Week High at $69.69

Shares of CMS Energy Co. (NYSE:CMS) reached a new 52-week high on Tuesday . The stock traded as high as $69.69 and last traded at $69.62, with a volume of 462993 shares. The stock had previously closed at $69.12.

Wall Street Analysts Forecast Growth

Several research firms have commented on CMS. Wells Fargo & Company raised their target price on shares of CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley lifted their price target on CMS Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Evercore ISI upgraded CMS Energy to a “hold” rating in a report on Friday, July 26th. Bank of America lifted their target price on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Guggenheim raised their target price on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.33.

CMS Energy Stock Performance

The company has a market capitalization of $20.76 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 2.71 and a beta of 0.40. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a 50-day simple moving average of $64.37 and a two-hundred day simple moving average of $61.55.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. As a group, sell-side analysts forecast that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. CMS Energy’s dividend payout ratio is currently 62.80%.

Insider Buying and Selling at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 1,667 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $59.98, for a total transaction of $99,986.66. Following the transaction, the senior vice president now directly owns 68,330 shares in the company, valued at $4,098,433.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.40% of the company’s stock.

Institutional Trading of CMS Energy

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of CMS Energy by 14.0% during the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after purchasing an additional 2,786,071 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of CMS Energy by 101.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after buying an additional 3,473,977 shares in the last quarter. Capital International Investors increased its position in 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 purchasing an additional 1,234,791 shares in the last quarter. Capital Research Global Investors increased its holdings in CMS Energy by 1.2% in the 4th 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in CMS Energy by 320.9% in 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 valued at $250,026,000 after purchasing an additional 3,282,697 shares during the period. 93.57% of the stock is currently 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.