CMS Energy (NYSE:CMS) Trading 0.2% Higher After Analyst Upgrade

CMS Energy Co. (NYSE:CMS) shares traded up 0.2% on Tuesday after Barclays raised their price target on the stock from $60.00 to $65.00. Barclays currently has an equal weight rating on the stock. CMS Energy traded as high as $66.16 and last traded at $65.92. 297,357 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,360,044 shares. The stock had previously closed at $65.78.

Several other research firms also recently weighed in on CMS. BMO Capital Markets lifted their target price on shares of CMS Energy from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Morgan Stanley lowered their price objective on shares of CMS Energy from $61.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Evercore ISI upgraded CMS Energy to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company lifted their price target on CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Scotiabank reduced their price objective on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, CMS Energy currently has an average rating of “Moderate Buy” and an average price target of $65.55.

Insider Activity at CMS Energy

In related news, Director Jon E. Barfield sold 2,360 shares of the business’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 completion of the sale, the director now owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Brandon J. Hofmeister sold 1,667 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $59.98, for a total transaction of $99,986.66. Following the transaction, the senior vice president now owns 68,330 shares in the company, valued at approximately $4,098,433.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jon E. Barfield sold 2,360 shares of CMS Energy stock in a transaction on Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction of $143,464.40. Following the completion of the sale, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

Hedge funds have recently bought and sold shares of the business. Scarborough Advisors LLC acquired a new position in shares of CMS Energy during the 4th quarter valued at about $29,000. Voisard Asset Management Group Inc. acquired a new position in CMS Energy during the fourth quarter valued at approximately $36,000. TruNorth Capital Management LLC raised its position in shares of CMS Energy by 431.3% in the second 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 during the period. Headlands Technologies LLC acquired a new stake in shares of CMS Energy in the first quarter worth $43,000. Finally, Innealta Capital LLC bought a new stake in shares of CMS Energy during the 2nd quarter worth $43,000. 93.57% of the stock is owned by institutional investors and hedge funds.

CMS Energy Stock Up 0.2 %

The firm has a market capitalization of $19.69 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.64 and a beta of 0.38. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The business’s 50 day moving average is $61.42 and its 200-day moving average is $60.07.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Equities analysts anticipate that CMS Energy Co. 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. Shareholders of record on Friday, August 2nd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, August 2nd. CMS Energy’s dividend payout ratio is currently 62.80%.

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.