CMS Energy (NYSE:CMS) PT Raised to $67.00 at Morgan Stanley

CMS Energy (NYSE:CMS) had its price target upped by Morgan Stanley from $64.00 to $67.00 in a report released on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Other analysts have also issued reports about the stock. Credit Suisse Group lowered shares of CMS Energy from an outperform rating to a neutral rating in a research report on Friday, January 17th. Citigroup decreased their price target on shares of CMS Energy from $66.00 to $65.00 and set a neutral rating for the company in a research report on Thursday, January 16th. Wells Fargo & Co reissued a buy rating on shares of CMS Energy in a research report on Monday, December 9th. JPMorgan Chase & Co. decreased their price target on shares of CMS Energy from $72.00 to $71.00 and set an overweight rating for the company in a research report on Monday, October 14th. Finally, ValuEngine lowered shares of CMS Energy from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $65.25.

NYSE:CMS opened at $67.49 on Wednesday. CMS Energy has a 1-year low of $50.08 and a 1-year high of $67.74. The company has a 50-day moving average of $63.02 and a 200 day moving average of $61.95. The firm has a market cap of $19.05 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 4.10 and a beta of 0.06. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.06 and a quick ratio of 0.74.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, October 24th. The utilities provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.65 billion. CMS Energy had a net margin of 9.03% and a return on equity of 12.80%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. Sell-side analysts anticipate that CMS Energy will post 2.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.4075 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.63 annualized dividend and a dividend yield of 2.42%. This is an increase from CMS Energy’s previous quarterly dividend of $0.38. CMS Energy’s dividend payout ratio is 65.67%.

In other news, Director John G. Russell sold 5,600 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $63.48, for a total transaction of $355,488.00. Following the transaction, the director now owns 206,911 shares in the company, valued at $13,134,710.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Dhenuvakonda Rao Venkat sold 750 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $63.44, for a total transaction of $47,580.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,690 shares of company stock worth $1,651,360. Corporate insiders own 0.52% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System increased its holdings in shares of CMS Energy by 1.1% during the fourth quarter. New York State Teachers Retirement System now owns 355,521 shares of the utilities provider’s stock valued at $22,341,000 after acquiring an additional 4,003 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of CMS Energy by 0.6% during the fourth quarter. State of Michigan Retirement System now owns 68,635 shares of the utilities provider’s stock valued at $4,313,000 after acquiring an additional 400 shares in the last quarter. CWM Advisors LLC increased its holdings in shares of CMS Energy by 1.5% during the fourth quarter. CWM Advisors LLC now owns 11,412 shares of the utilities provider’s stock valued at $717,000 after acquiring an additional 167 shares in the last quarter. Strs Ohio increased its holdings in shares of CMS Energy by 5.0% during the fourth quarter. Strs Ohio now owns 155,601 shares of the utilities provider’s stock valued at $9,777,000 after acquiring an additional 7,472 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its holdings in shares of CMS Energy by 4.8% during the fourth quarter. Sumitomo Life Insurance Co. now owns 35,491 shares of the utilities provider’s stock valued at $2,230,000 after acquiring an additional 1,623 shares in the last quarter. Hedge funds and other institutional investors own 92.12% of the company’s stock.

CMS Energy Company Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.

Further Reading: Are sell-side analysts objective?

Analyst Recommendations for CMS Energy (NYSE:CMS)

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