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

CMS Energy (NYSE:CMS) had its price target increased by investment analysts 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 price objective points to a potential upside of 14.24% from the stock’s current price.

Several other research firms have also weighed in on CMS. StockNews.com lowered shares of CMS Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. KeyCorp raised their target price on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Bank of America upped their price target on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. 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 research note on Friday, November 22nd. Finally, BMO Capital Markets decreased their target price on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.36.

CMS Energy Trading Up 0.9 %

Shares of CMS traded up $0.58 during mid-day trading on Thursday, reaching $67.40. The company had a trading volume of 152,874 shares, compared to its average volume of 2,270,267. The stock has a market cap of $20.14 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 2.68 and a beta of 0.41. 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 firm has a fifty day simple moving average of $69.37 and a 200-day simple moving average of $66.05. CMS Energy has a fifty-two week low of $55.10 and a fifty-two week high of $72.40.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $0.61 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that CMS Energy will post 3.33 EPS for the current fiscal year.

Insider Transactions at CMS Energy

In related news, CAO Scott B. Mcintosh sold 936 shares of the firm’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 sale, the chief accounting officer now owns 24,417 shares of the company’s stock, valued at approximately $1,672,564.50. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the transaction, the senior vice president now directly owns 64,771 shares of the company’s stock, valued at approximately $4,415,439.07. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its stake in shares of CMS Energy by 171.9% during 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 during the period. Brooklyn Investment Group acquired a new position in shares of CMS Energy during the 3rd quarter valued at $40,000. Innealta Capital LLC bought a new stake in shares of CMS Energy in the 2nd quarter worth $43,000. Covestor Ltd lifted its holdings in shares of CMS Energy by 206.1% in the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock valued at $50,000 after buying an additional 472 shares during the period. Finally, Values First Advisors Inc. bought a new position in CMS Energy during the third quarter valued at about $56,000. 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.