CMS Energy (NYSE:CMS) Rating Increased to Hold at Evercore ISI

Evercore ISI upgraded shares of CMS Energy (NYSE:CMS) to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.

CMS has been the subject of a number of other reports. Wells Fargo & Company upped their price objective on shares of CMS Energy from $66.00 to $70.00 and gave the stock an overweight rating in a research note on Friday. Barclays boosted their target price on shares of CMS Energy from $57.00 to $59.00 and gave the stock an equal weight rating in a report on Tuesday, April 30th. Guggenheim boosted their target price on shares of CMS Energy from $66.00 to $67.00 and gave the stock a buy rating in a report on Friday. Scotiabank reduced their target price on shares of CMS Energy from $67.00 to $66.00 and set a sector outperform rating for the company in a report on Monday, April 22nd. Finally, UBS Group downgraded shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 price objective on the stock. in a report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $65.00.

CMS Energy Stock Up 1.1 %

NYSE:CMS opened at $63.66 on Friday. CMS Energy has a 1-year low of $49.87 and a 1-year high of $64.28. The company has a 50-day moving average of $60.68 and a 200 day moving average of $59.48. The firm has a market cap of $19.02 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.50 and a beta of 0.38. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a $0.51 dividend. The ex-dividend date is Friday, August 2nd. This represents a $2.04 annualized dividend and a yield of 3.20%. CMS Energy’s dividend payout ratio (DPR) is presently 62.80%.

Insider Buying and Selling

In related news, SVP Brian F. Rich sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total value of $122,200.00. Following the transaction, the senior vice president now owns 97,682 shares in the company, valued at approximately $5,968,370.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.79, for a total value of $143,464.40. Following the sale, the director now owns 14,556 shares in the company, valued at approximately $884,859.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Brian F. Rich sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total value of $122,200.00. Following the completion of the sale, the senior vice president now owns 97,682 shares in the company, valued at approximately $5,968,370.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,027 shares of company stock worth $365,651. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On CMS Energy

Several hedge funds have recently bought and sold shares of CMS. Raymond James Financial Services Advisors Inc. boosted its position in CMS Energy by 68.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 26,034 shares in the last quarter. Global Retirement Partners LLC boosted its position in CMS Energy by 80.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,868 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 835 shares in the last quarter. Essex Savings Bank purchased a new stake in CMS Energy in the 4th quarter worth approximately $207,000. Trust Point Inc. purchased a new position in shares of CMS Energy during the 4th quarter valued at approximately $651,000. Finally, Ballentine Partners LLC lifted its position in shares of CMS Energy by 17.2% during the 4th quarter. Ballentine Partners LLC now owns 5,215 shares of the utilities provider’s stock valued at $303,000 after buying an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Company Profile

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.