Royal Bank Of Canada reaffirmed their hold rating on shares of CMS Energy Corporation (NYSE:CMS) in a research report report published on Monday, September 11th. They currently have a $46.00 price objective on the utilities provider’s stock.
CMS has been the subject of a number of other reports. KeyCorp restated a buy rating and issued a $51.00 target price on shares of CMS Energy Corporation in a research note on Friday, September 1st. Morgan Stanley raised their target price on CMS Energy Corporation from $49.00 to $50.00 and gave the company an equal weight rating in a research note on Friday, September 8th. Guggenheim began coverage on CMS Energy Corporation in a research report on Tuesday, September 5th. They issued a neutral rating and a $48.00 price objective for the company. BidaskClub upgraded CMS Energy Corporation from a buy rating to a strong-buy rating in a research report on Saturday, June 17th. Finally, Credit Suisse Group upgraded CMS Energy Corporation from a neutral rating to an outperform rating and boosted their target price for the stock from $46.00 to $50.00 in a research report on Monday, July 24th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $48.20.
Shares of CMS Energy Corporation (NYSE CMS) opened at 47.06 on Monday. The company’s 50-day moving average is $47.93 and its 200 day moving average is $46.41. CMS Energy Corporation has a 52 week low of $38.78 and a 52 week high of $49.11. The stock has a market cap of $13.25 billion, a PE ratio of 23.77 and a beta of 0.17.
CMS Energy Corporation (NYSE:CMS) last issued its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.08). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.36 billion. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. Analysts forecast that CMS Energy Corporation will post $2.17 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Friday, August 4th were issued a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Wednesday, August 2nd. CMS Energy Corporation’s payout ratio is presently 66.83%.
In related news, Director Jon E. Barfield sold 6,336 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $46.81, for a total transaction of $296,588.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian F. Rich sold 3,500 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $48.26, for a total value of $168,910.00. Following the completion of the transaction, the senior vice president now owns 44,835 shares of the company’s stock, valued at $2,163,737.10. The disclosure for this sale can be found here. Insiders have sold a total of 11,836 shares of company stock worth $561,118 over the last three months. 0.65% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC grew its stake in CMS Energy Corporation by 62.0% during the second quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 438 shares during the period. IHT Wealth Management LLC acquired a new stake in CMS Energy Corporation during the second quarter worth approximately $310,000. Van ECK Associates Corp grew its stake in CMS Energy Corporation by 18.0% during the first quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 370 shares during the period. Brookfield Asset Management Inc. acquired a new stake in CMS Energy Corporation during the first quarter worth approximately $159,000. Finally, Meeder Asset Management Inc. acquired a new stake in CMS Energy Corporation during the second quarter worth approximately $185,000. 87.37% of the stock is owned by institutional investors and hedge funds.
CMS Energy Corporation Company Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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