CMS Energy (NYSE:CMS) Price Target Cut to $67.00 by Analysts at Morgan Stanley

CMS Energy (NYSE:CMS) had its price target cut by Morgan Stanley from $69.00 to $67.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. Barclays raised their target price on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group assumed coverage on CMS Energy in a research report on Tuesday, November 5th. They set a “buy” rating and a $76.00 price objective on the stock. Bank of America upped their target price on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, August 29th. KeyCorp lifted their price target on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, BMO Capital Markets dropped their price objective on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.21.

CMS Energy Stock Performance

Shares of NYSE:CMS opened at $69.52 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83. CMS Energy has a 1 year low of $55.10 and a 1 year high of $72.40. The firm has a market capitalization of $20.77 billion, a PE ratio of 19.86, a P/E/G ratio of 2.73 and a beta of 0.41. The business’s 50 day moving average price is $69.72 and its 200-day moving average price is $65.48.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, equities research analysts expect that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio (DPR) is presently 58.86%.

Insider Buying and Selling at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $68.17, for a total transaction of $136,340.00. Following the completion of the transaction, the senior vice president now directly owns 64,771 shares in the company, valued at $4,415,439.07. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of CMS Energy

Several hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. raised its stake in shares of CMS Energy by 171.9% in the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 275 shares in the last quarter. Brooklyn Investment Group purchased a new stake in CMS Energy during the 3rd quarter worth about $40,000. TruNorth Capital Management LLC raised its position in CMS Energy by 431.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of CMS Energy in the 2nd quarter valued at about $43,000. Finally, Covestor Ltd grew its position in shares of CMS Energy by 206.1% during the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after buying an additional 472 shares in the last quarter. Institutional investors and hedge funds 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.