CMS Energy (NYSE:CMS) Price Target Raised to $69.00 at Morgan Stanley

CMS Energy (NYSE:CMS – Get Rating) had its price target raised by analysts at Morgan Stanley from $64.00 to $69.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential downside of 5.04% from the company’s current price.

A number of other equities research analysts have also recently weighed in on CMS. StockNews.com initiated coverage on CMS Energy in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Argus upped their price target on CMS Energy from $70.00 to $78.00 in a research note on Friday, April 1st. BMO Capital Markets upped their price target on CMS Energy from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 8th. Evercore ISI restated a “hold” rating and set a $67.00 price target on shares of CMS Energy in a research note on Friday, February 4th. Finally, Mizuho cut their price target on CMS Energy from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $70.33.

NYSE CMS traded up $0.35 on Wednesday, reaching $72.66. The stock had a trading volume of 7,039 shares, compared to its average volume of 1,966,883. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.89 and a current ratio of 1.19. CMS Energy has a 12-month low of $57.92 and a 12-month high of $73.64. The business’s 50-day moving average price is $67.11 and its 200 day moving average price is $63.94. The stock has a market cap of $21.08 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 2.70 and a beta of 0.26.

CMS Energy (NYSE:CMS – Get Rating) last issued its quarterly earnings data on Thursday, February 3rd. The utilities provider reported $0.47 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.47. CMS Energy had a return on equity of 12.29% and a net margin of 18.29%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts predict that CMS Energy will post 2.87 earnings per share for the current year.

In related news, SVP Catherine A. Hendrian sold 6,521 shares of the firm’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $66.09, for a total value of $430,972.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CMS. Achmea Investment Management B.V. acquired a new position in CMS Energy during the third quarter worth about $25,000. Crewe Advisors LLC acquired a new position in CMS Energy during the fourth quarter worth about $26,000. Assetmark Inc. raised its position in CMS Energy by 322.4% during the third quarter. Assetmark Inc. now owns 566 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 432 shares during the last quarter. Strategic Asset Management LLC acquired a new position in CMS Energy during the third quarter worth about $37,000. Finally, Quent Capital LLC acquired a new position in CMS Energy during the fourth quarter worth about $38,000. Institutional investors own 91.21% of the company’s stock.

CMS Energy Company Profile (Get Rating)

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.

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