CMS Energy (NYSE:CMS) Price Target Raised to $77.00 at Scotiabank

CMS Energy (NYSE:CMS) had its price target increased by equities researchers at Scotiabank from $75.00 to $77.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s target price points to a potential upside of 14.38% from the company’s previous close.

CMS has been the topic of a number of other research reports. StockNews.com lowered CMS Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Mizuho lowered shares of CMS Energy from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $76.00 to $72.00 in a research report on Tuesday, October 15th. KeyCorp increased their price target on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Morgan Stanley dropped their price objective on shares of CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on CMS Energy in a research report on Tuesday, November 5th. They set a “buy” rating and a $76.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CMS Energy presently has a consensus rating of “Moderate Buy” and an average price target of $70.36.

CMS Energy Price Performance

NYSE CMS opened at $67.32 on Thursday. CMS Energy has a 1 year low of $55.10 and a 1 year high of $72.40. The company has a fifty day simple moving average of $69.13 and a 200 day simple moving average of $66.10. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. The company has a market cap of $20.11 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.66 and a beta of 0.41.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion during 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 business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. On average, sell-side analysts predict that CMS Energy will post 3.33 EPS for the current year.

Insider Transactions at CMS Energy

In other news, CAO Scott B. Mcintosh sold 936 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $68.50, for a total value of $64,116.00. Following the transaction, the chief accounting officer now directly owns 24,417 shares of the company’s stock, valued at $1,672,564.50. The trade was a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $68.17, for a total value of $136,340.00. Following the sale, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in CMS Energy by 79.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 731,887 shares of the utilities provider’s stock valued at $43,569,000 after acquiring an additional 325,101 shares in the last quarter. Cetera Investment Advisers raised its position in CMS Energy by 325.4% in the 1st quarter. Cetera Investment Advisers now owns 26,219 shares of the utilities provider’s stock worth $1,582,000 after purchasing an additional 20,056 shares during the last quarter. Quest Partners LLC raised its position in CMS Energy by 130,804.3% in the 2nd quarter. Quest Partners LLC now owns 30,108 shares of the utilities provider’s stock worth $1,792,000 after purchasing an additional 30,085 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in CMS Energy by 992.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 251,525 shares of the utilities provider’s stock worth $18,075,000 after buying an additional 228,501 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in CMS Energy by 10.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock valued at $537,503,000 after buying an additional 719,093 shares during the last quarter. 93.57% of the stock is owned by institutional investors.

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.