BMO Capital Markets Lowers CMS Energy (NYSE:CMS) Price Target to $71.00

CMS Energy (NYSE:CMSGet Rating) had its target price lowered by BMO Capital Markets from $80.00 to $71.00 in a research note published on Monday, The Fly reports. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

Other research analysts also recently issued reports about the stock. Credit Suisse Group assumed coverage on shares of CMS Energy in a research report on Monday, April 25th. They set a neutral rating and a $76.00 target price for the company. Argus boosted their price objective on CMS Energy from $70.00 to $78.00 in a report on Friday, April 1st. StockNews.com began coverage on CMS Energy in a report on Thursday, March 31st. They issued a hold rating for the company. Morgan Stanley decreased their price objective on CMS Energy from $66.00 to $59.00 and set an equal weight rating for the company in a report on Thursday, June 23rd. Finally, Mizuho lifted their price target on CMS Energy from $70.00 to $77.00 and gave the company a buy rating in a research note on Thursday, April 21st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $70.80.

Shares of CMS Energy stock opened at $66.50 on Monday. The firm has a market capitalization of $19.29 billion, a P/E ratio of 14.27, a PEG ratio of 2.79 and a beta of 0.26. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average price of $68.20 and a 200 day moving average price of $66.64. CMS Energy has a 52 week low of $58.51 and a 52 week high of $73.76.

CMS Energy (NYSE:CMSGet Rating) last issued its earnings results on Tuesday, May 3rd. The utilities provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. CMS Energy had a return on equity of 11.83% and a net margin of 17.65%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. CMS Energy’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, research analysts anticipate that CMS Energy will post 2.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Friday, May 6th were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $1.84 annualized dividend and a dividend yield of 2.77%. CMS Energy’s dividend payout ratio (DPR) is 39.48%.

In related news, SVP Dhenuvakonda Rao Venkat sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $69.20, for a total transaction of $69,200.00. Following the transaction, the senior vice president now directly owns 35,241 shares in the company, valued at $2,438,677.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jon E. Barfield sold 1,267 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $69.44, for a total transaction of $87,980.48. Following the transaction, the director now directly owns 13,620 shares in the company, valued at approximately $945,772.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,706 shares of company stock worth $257,120. Company insiders own 0.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of CMS Energy during the 1st quarter valued at about $199,000. J.W. Cole Advisors Inc. acquired a new position in CMS Energy in the first quarter valued at about $50,000. Brasada Capital Management LP boosted its stake in CMS Energy by 3.1% during the first quarter. Brasada Capital Management LP now owns 16,178 shares of the utilities provider’s stock worth $1,131,000 after buying an additional 493 shares during the period. Verition Fund Management LLC acquired a new stake in shares of CMS Energy during the first quarter valued at about $582,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of CMS Energy by 31.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,784 shares of the utilities provider’s stock valued at $1,733,000 after acquiring an additional 5,937 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

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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