CMS Energy (NYSE:CMS) Price Target Cut to $57.00

CMS Energy (NYSE:CMS) had its price objective lowered by Barclays from $58.00 to $57.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

CMS has been the subject of several other reports. BMO Capital Markets cut their price target on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating for the company in a report on Monday, March 4th. Seaport Res Ptn cut shares of CMS Energy from a buy rating to a neutral rating in a report on Monday, January 8th. Royal Bank of Canada dropped their target price on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating for the company in a report on Monday, March 4th. Wolfe Research raised shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 target price for the company in a report on Tuesday, January 16th. Finally, KeyCorp increased their target price on shares of CMS Energy from $60.00 to $65.00 and gave the company an overweight rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $62.55.

CMS Energy Trading Down 0.1 %

NYSE CMS opened at $57.61 on Monday. The stock has a market capitalization of $17.20 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.23 and a beta of 0.38. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. The firm has a 50-day moving average price of $58.28 and a 200 day moving average price of $57.06. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Equities research analysts expect that CMS Energy will post 3.34 EPS for the current year.

CMS Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Monday, February 12th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from CMS Energy’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, February 9th. CMS Energy’s dividend payout ratio (DPR) is 68.44%.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the transaction, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at approximately $3,985,144.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of CMS Energy

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in CMS Energy by 68.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock worth $3,721,000 after acquiring an additional 26,034 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of CMS Energy by 49.9% in the 3rd quarter. Epoch Investment Partners Inc. now owns 302,221 shares of the utilities provider’s stock valued at $16,051,000 after purchasing an additional 100,618 shares during the last quarter. New England Asset Management Inc. boosted its holdings in shares of CMS Energy by 38.8% in the 3rd quarter. New England Asset Management Inc. now owns 132,950 shares of the utilities provider’s stock valued at $7,061,000 after purchasing an additional 37,147 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of CMS Energy in the 3rd quarter valued at $4,209,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of CMS Energy by 4.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 21,521 shares of the utilities provider’s stock valued at $1,143,000 after purchasing an additional 957 shares during the last quarter. Institutional investors and hedge funds 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.