CMS Energy (NYSE:CMS) Price Target Raised to $59.00

CMS Energy (NYSE:CMS) had its price target hoisted by research analysts at Barclays from $57.00 to $59.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target points to a potential downside of 1.99% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Seaport Res Ptn lowered shares of CMS Energy from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Scotiabank decreased their price target on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Wolfe Research raised CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a report on Tuesday, January 16th. JPMorgan Chase & Co. upped their target price on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Finally, KeyCorp boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.50.

CMS Energy Stock Up 1.4 %

CMS stock opened at $60.20 on Tuesday. The stock has a market capitalization of $17.98 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38. The company has a fifty day moving average of $58.82 and a 200-day moving average of $57.52. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.05 and a current ratio of 1.35. CMS Energy has a one year low of $49.87 and a one year high of $63.76.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 EPS. As a group, analysts expect that CMS Energy will post 3.32 EPS for the current year.

Insider Buying and Selling

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the sale, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at approximately $3,985,144.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CMS Energy

Large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in shares of CMS Energy by 0.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 73,534 shares of the utilities provider’s stock valued at $4,437,000 after acquiring an additional 301 shares during the period. Greenleaf Trust raised its position in CMS Energy by 7.5% in the first quarter. Greenleaf Trust now owns 11,233 shares of the utilities provider’s stock valued at $678,000 after purchasing an additional 787 shares during the period. Principal Financial Group Inc. lifted its stake in shares of CMS Energy by 2.7% during the first quarter. Principal Financial Group Inc. now owns 382,597 shares of the utilities provider’s stock worth $23,086,000 after purchasing an additional 10,233 shares in the last quarter. Strategy Asset Managers LLC boosted its position in shares of CMS Energy by 9.5% in the first quarter. Strategy Asset Managers LLC now owns 4,445 shares of the utilities provider’s stock worth $268,000 after buying an additional 387 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CMS Energy by 1.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,952 shares of the utilities provider’s stock valued at $3,618,000 after buying an additional 581 shares in the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

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.