CMS Energy (NYSE:CMS) PT Lowered to $58.00

CMS Energy (NYSE:CMS) had its price objective dropped by analysts at Morgan Stanley from $61.00 to $58.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential downside of 3.78% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Barclays boosted their price target on CMS Energy from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. KeyCorp upped their price objective on CMS Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, May 20th. BMO Capital Markets upped their price objective on CMS Energy from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Royal Bank of Canada cut their price objective on CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Finally, Scotiabank cut their target price on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CMS Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

CMS Energy Stock Performance

CMS stock traded up $0.73 during trading on Monday, reaching $60.28. 110,165 shares of the company’s stock were exchanged, compared to its average volume of 2,453,447. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 1.82. CMS Energy has a 1-year low of $49.87 and a 1-year high of $63.76. The company’s fifty day moving average price is $60.91 and its 200-day moving average price is $59.07. The firm has a market cap of $17.97 billion, a PE ratio of 18.38, a P/E/G ratio of 2.37 and a beta of 0.40.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, research analysts expect that CMS Energy will post 3.33 EPS for the current fiscal year.

Insider Activity at CMS Energy

In related news, SVP Brian F. Rich sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the sale, the senior vice president now owns 97,682 shares in the company, valued at approximately $5,968,370.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other CMS Energy news, SVP Brian F. Rich sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total value of $122,200.00. Following the completion of the sale, the senior vice president now owns 97,682 shares in the company, valued at approximately $5,968,370.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon E. Barfield sold 2,360 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.79, for a total value of $143,464.40. Following the completion of the sale, the director now owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The disclosure for this sale can be found here. Insiders sold a total of 6,027 shares of company stock worth $365,651 in the last 90 days. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CMS Energy

Several institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its position in CMS Energy by 30.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 785 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 185 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of CMS Energy by 0.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 20,607 shares of the utilities provider’s stock worth $1,228,000 after acquiring an additional 192 shares during the last quarter. Parallel Advisors LLC raised its position in shares of CMS Energy by 19.8% during the fourth quarter. Parallel Advisors LLC now owns 1,458 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 241 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of CMS Energy by 0.3% during the fourth quarter. IFM Investors Pty Ltd now owns 97,475 shares of the utilities provider’s stock worth $5,660,000 after acquiring an additional 269 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its position in shares of CMS Energy by 3.2% during the first quarter. Industrial Alliance Investment Management Inc. now owns 8,680 shares of the utilities provider’s stock worth $524,000 after acquiring an additional 270 shares during the last quarter. 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.