Morgan Stanley Cuts CMS Energy (NYSE:CMS) Price Target to $67.00

CMS Energy (NYSE:CMS) had its price target cut by Morgan Stanley from $69.00 to $67.00 in a report published on Friday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Other equities research analysts have also recently issued reports about the stock. KeyCorp increased their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Scotiabank upped their target price on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Evercore ISI upgraded CMS Energy to a “hold” rating in a report on Friday, July 26th. Bank of America increased their price target on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Guggenheim lifted their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, CMS Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.21.

CMS Energy Stock Up 0.4 %

Shares of NYSE CMS opened at $69.52 on Friday. The stock has a 50-day moving average price of $69.72 and a two-hundred day moving average price of $65.52. The company has a market cap of $20.77 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.76 and a beta of 0.41. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. CMS Energy has a 12 month low of $55.10 and a 12 month high of $72.40.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $0.61 EPS. CMS Energy’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts forecast that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.515 per share. The ex-dividend date is Wednesday, November 13th. This represents a $2.06 annualized dividend and a yield of 2.96%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is presently 58.86%.

Insiders Place Their Bets

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $68.17, for a total transaction of $136,340.00. Following the completion of the transaction, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. This represents a 3.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

Large investors have recently modified their holdings of the business. Mackenzie Financial Corp grew its stake in CMS Energy by 0.6% in the 2nd quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider’s stock valued at $1,511,000 after buying an additional 157 shares in the last quarter. Voisard Asset Management Group Inc. boosted its position in shares of CMS Energy by 25.7% in the third quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 163 shares during the period. OneDigital Investment Advisors LLC grew its stake in CMS Energy by 5.4% during the third quarter. OneDigital Investment Advisors LLC now owns 3,625 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 187 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in CMS Energy by 1.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 15,675 shares of the utilities provider’s stock worth $1,107,000 after acquiring an additional 200 shares during the period. Finally, Private Trust Co. NA lifted its stake in CMS Energy by 25.6% in the 3rd quarter. Private Trust Co. NA now owns 982 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors 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.