CMS Energy (NYSE:CMS) Stock Gets Price Target Cut from Wells Fargo & Company

CMS Energy (NYSE:CMS) had its target price decreased by Wells Fargo & Company from $79.00 to $73.00 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

Several other research analysts have also recently issued reports on CMS. Wall Street Zen raised CMS Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 5th. HSBC started coverage on CMS Energy in a research report on Thursday, October 22nd. They issued a “hold” rating and a $69.00 price target for the company. Weiss Ratings cut CMS Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Jefferies Financial Group dropped their price objective on CMS Energy from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Tuesday, September 15th. Finally, Argus reiterated a “buy” rating and issued a $80.00 target price on shares of CMS Energy in a research note on Wednesday, August 26th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.35.

CMS Energy Trading Up 0.9%

NYSE:CMS opened at $70.12 on Wednesday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.95 and a quick ratio of 0.67. CMS Energy has a one year low of $62.28 and a one year high of $80.36. The company has a market cap of $21.99 billion, a PE ratio of 17.87, a PEG ratio of 2.54 and a beta of 0.32. The firm has a 50-day moving average of $66.77 and a 200-day moving average of $72.53.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.23 billion. CMS Energy had a return on equity of 12.28% and a net margin of 9.72%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, equities research analysts expect that CMS Energy will post 3.87 EPS for the current fiscal year.

CMS Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. CMS Energy’s dividend payout ratio is currently 68.47%.

Institutional Trading of CMS Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. GQG Partners LLC bought a new stake in shares of CMS Energy in the 2nd quarter worth approximately $363,388,000. Magellan Asset Management Ltd purchased a new position in CMS Energy in the second quarter valued at approximately $194,237,000. Legal & General Group Plc purchased a new position in CMS Energy in the second quarter valued at approximately $189,370,000. Dimensional Fund Advisors LP grew its holdings in CMS Energy by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,581,115 shares of the utilities provider’s stock valued at $122,657,000 after purchasing an additional 50,475 shares during the period. Finally, Hsbc Holdings PLC bought a new position in CMS Energy during the second quarter valued at $91,344,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

About CMS Energy

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.