CMS Energy (NYSE:CMS) Price Target Cut to $66.00

CMS Energy (NYSE:CMS - Free Report) had its target price lowered by Scotiabank from $67.00 to $66.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a sector outperform rating on the utilities provider's stock.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets lifted their target price on CMS Energy from $63.00 to $64.00 and gave the stock an outperform rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. boosted their price target on CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a report on Wednesday, March 13th. KeyCorp boosted their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a research note on Friday. Barclays reduced their price objective on shares of CMS Energy from $58.00 to $57.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Finally, UBS Group downgraded CMS Energy from a buy rating to a neutral rating and set a $65.00 price target on the stock. in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $63.00.

CMS Energy Stock Up 0.7 %

CMS stock traded up $0.45 on Monday, reaching $60.00. 3,424,840 shares of the company traded hands, compared to its average volume of 2,436,552. The firm has a fifty day simple moving average of $58.44 and a 200-day simple moving average of $57.23. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66. CMS Energy has a one year low of $49.87 and a one year high of $63.76. The company has a market cap of $17.92 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38.

CMS Energy (NYSE:CMS - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the business posted $0.60 EPS. The company's revenue for the quarter was down 14.4% on a year-over-year basis. Research analysts anticipate that CMS Energy will post 3.33 earnings per share for the current year.

CMS Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.43%. CMS Energy's dividend payout ratio is presently 68.44%.

Insiders Place Their Bets

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the sale, the senior vice president now owns 68,971 shares of the company's stock, valued at approximately $3,985,144.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company's stock.

Institutional Trading of CMS Energy

Several institutional investors have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd lifted its position in CMS Energy by 1.5% in the first quarter. IFM Investors Pty Ltd now owns 98,898 shares of the utilities provider's stock valued at $5,968,000 after acquiring an additional 1,423 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of CMS Energy by 34.4% in the first quarter. First Trust Direct Indexing L.P. now owns 11,214 shares of the utilities provider's stock valued at $677,000 after buying an additional 2,872 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of CMS Energy by 1.0% in the first quarter. State of Michigan Retirement System now owns 80,699 shares of the utilities provider's stock valued at $4,869,000 after buying an additional 800 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of CMS Energy in the first quarter valued at about $233,000. Finally, BKM Wealth Management LLC raised its holdings in shares of CMS Energy by 22.7% in the first quarter. BKM Wealth Management LLC now owns 13,727 shares of the utilities provider's stock valued at $828,000 after buying an additional 2,537 shares during the last quarter. Institutional investors and hedge funds 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.