CMS Energy (NYSE:CMS) Price Target Cut to $66.00

CMS Energy (NYSE:CMS) had its target price decreased by research analysts at Scotiabank from $67.00 to $66.00 in a report released on Monday, Benzinga reports. The firm currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price objective would suggest a potential upside of 10.18% from the company’s current price.

Several other research analysts have also issued reports on CMS. KeyCorp increased their price target on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Royal Bank of Canada decreased their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. JPMorgan Chase & Co. upped their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Seaport Res Ptn cut shares of CMS Energy from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Finally, Guggenheim raised shares of CMS Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $64.00 in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

CMS Energy Trading Down 0.2 %

Shares of NYSE:CMS opened at $59.90 on Monday. The stock has a market capitalization of $17.89 billion, a PE ratio of 19.90, a P/E/G ratio of 2.31 and a beta of 0.38. CMS Energy has a 1 year low of $49.87 and a 1 year high of $63.76. The firm has a fifty day moving average price of $58.57 and a 200 day moving average price of $57.34. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. CMS Energy’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. Analysts expect that CMS Energy will post 3.33 EPS for the current fiscal year.

Insider Buying and Selling at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the sale, the senior vice president now directly owns 68,971 shares in the company, valued at $3,985,144.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On CMS Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vontobel Holding Ltd. bought a new position in CMS Energy in the third quarter valued at $623,000. DnB Asset Management AS grew its position in CMS Energy by 1.3% in the third quarter. DnB Asset Management AS now owns 59,749 shares of the utilities provider’s stock valued at $3,173,000 after purchasing an additional 767 shares in the last quarter. Exchange Traded Concepts LLC grew its position in CMS Energy by 4.5% in the third quarter. Exchange Traded Concepts LLC now owns 10,379 shares of the utilities provider’s stock valued at $551,000 after purchasing an additional 449 shares in the last quarter. Hennessy Advisors Inc. grew its position in CMS Energy by 1.2% in the third quarter. Hennessy Advisors Inc. now owns 186,898 shares of the utilities provider’s stock valued at $9,926,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Advisory Alpha LLC bought a new position in shares of CMS Energy in the 3rd quarter valued at about $269,000. 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.