CMS Energy (NYSE:CMS) Price Target Raised to $73.00 at KeyCorp

CMS Energy (NYSE:CMS) had its price objective upped by KeyCorp from $68.00 to $73.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other equities analysts have also recently commented on CMS. Evercore ISI raised shares of CMS Energy to a hold rating in a research note on Friday, July 26th. StockNews.com upgraded CMS Energy from a sell rating to a hold rating in a research report on Monday, July 29th. Scotiabank upped their price objective on CMS Energy from $66.00 to $75.00 and gave the stock a sector outperform rating in a report on Tuesday, August 20th. Guggenheim raised their price objective on CMS Energy from $66.00 to $67.00 and gave the company a buy rating in a report on Friday, July 26th. Finally, Bank of America upped their target price on CMS Energy from $69.00 to $73.00 and gave the stock a buy rating in a research note on Thursday, August 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $67.75.

CMS Energy Trading Up 0.6 %

CMS Energy stock opened at $70.48 on Monday. The stock has a market cap of $21.05 billion, a P/E ratio of 21.49, a PEG ratio of 2.75 and a beta of 0.40. CMS Energy has a fifty-two week low of $49.87 and a fifty-two week high of $70.64. The firm’s fifty day moving average price is $65.46 and its 200-day moving average price is $61.99. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm posted $0.75 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, August 2nd. CMS Energy’s payout ratio is 62.80%.

Institutional Investors Weigh In On CMS Energy

Several institutional investors have recently added to or reduced their stakes in CMS. Principal Securities Inc. purchased a new stake in shares of CMS Energy during the fourth quarter worth about $61,000. Dimensional Fund Advisors LP boosted its holdings in CMS Energy by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,851 shares of the utilities provider’s stock valued at $60,326,000 after acquiring an additional 18,636 shares in the last quarter. Principal Financial Group Inc. increased its position in CMS Energy by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 372,364 shares of the utilities provider’s stock valued at $21,623,000 after purchasing an additional 2,549 shares during the period. Kentucky Retirement Systems raised its holdings in CMS Energy by 3.1% in the 4th quarter. Kentucky Retirement Systems now owns 23,344 shares of the utilities provider’s stock worth $1,356,000 after purchasing an additional 711 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of CMS Energy by 2.9% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,394 shares of the utilities provider’s stock worth $604,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 93.57% of the company’s stock.

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.