Mizuho Boosts CMS Energy (NYSE:CMS) Price Target to $76.00

CMS Energy (NYSE:CMS) had its price objective hoisted by Mizuho from $65.00 to $76.00 in a research note released on Tuesday, Benzinga reports. Mizuho currently has an outperform rating on the utilities provider’s stock.

CMS has been the topic of several other reports. StockNews.com raised CMS Energy from a sell rating to a hold rating in a research note on Monday, July 29th. Scotiabank lifted their target price on CMS Energy from $66.00 to $75.00 and gave the stock a sector outperform rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price target on CMS Energy from $66.00 to $70.00 and gave the company an overweight rating in a report on Friday, July 26th. Bank of America lifted their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the stock a buy rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets increased their target price on shares of CMS Energy from $69.00 to $76.00 and gave the company an outperform rating in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $69.38.

CMS Energy Stock Up 0.1 %

NYSE CMS opened at $71.20 on Tuesday. The stock has a 50 day moving average price of $68.00 and a 200-day moving average price of $63.04. CMS Energy has a one year low of $50.70 and a one year high of $71.57. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The company has a market capitalization of $21.26 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.80 and a beta of 0.41.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $0.75 earnings per share. CMS Energy’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 dividend on an annualized basis and a yield of 2.87%. CMS Energy’s dividend payout ratio is currently 62.80%.

Institutional Trading of CMS Energy

Several institutional investors and hedge funds have recently modified their holdings of CMS. Scarborough Advisors LLC purchased a new position in CMS Energy during the 4th quarter worth $29,000. Voisard Asset Management Group Inc. bought a new stake in shares of CMS Energy in the fourth quarter valued at about $36,000. TruNorth Capital Management LLC lifted its stake in CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 578 shares during the period. Headlands Technologies LLC bought a new position in CMS Energy during the 1st quarter worth about $43,000. Finally, Innealta Capital LLC purchased a new position in CMS Energy during the 2nd quarter valued at about $43,000. 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.