Mizuho Lowers CMS Energy (NYSE:CMS) to Neutral

Mizuho lowered shares of CMS Energy (NYSE:CMS) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Mizuho currently has $72.00 price objective on the utilities provider’s stock, down from their previous price objective of $76.00.

Several other research firms also recently weighed in on CMS. Barclays lifted their target price on CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 13th. KeyCorp increased their price objective on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Guggenheim upped their target price on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Morgan Stanley upped their price objective on shares of CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their price target on shares of CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, CMS Energy has a consensus rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Trading Up 0.4 %

Shares of CMS stock opened at $71.29 on Tuesday. CMS Energy has a 12-month low of $52.12 and a 12-month high of $71.57. The stock has a market capitalization of $21.29 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.77 and a beta of 0.41. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm’s 50 day moving average is $68.99 and its 200 day moving average is $63.79.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. Research analysts expect that CMS Energy will post 3.33 earnings per share for the current year.

CMS Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 2nd. CMS Energy’s dividend payout ratio is currently 62.80%.

Institutional Investors Weigh In On CMS Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in shares of CMS Energy during the 4th quarter worth $29,000. TruNorth Capital Management LLC lifted its position in shares of CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 578 shares in the last quarter. Headlands Technologies LLC purchased a new position in CMS Energy in the 1st quarter valued at approximately $43,000. Innealta Capital LLC acquired a new position in CMS Energy during the 2nd quarter worth $43,000. Finally, Tobam raised its position in CMS Energy by 31.7% in the 3rd quarter. Tobam now owns 868 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 209 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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.