CMS Energy (NYSE:CMS – Get Rating) had its price target reduced by equities researchers at Morgan Stanley from $66.00 to $59.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential downside of 7.16% from the stock’s current price.
Several other analysts have also commented on CMS. Argus increased their price target on shares of CMS Energy from $70.00 to $78.00 in a research report on Friday, April 1st. Mizuho increased their price target on shares of CMS Energy from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, April 21st. Credit Suisse Group assumed coverage on shares of CMS Energy in a research note on Monday, April 25th. They set a “neutral” rating and a $76.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of CMS Energy from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 8th. Finally, StockNews.com started coverage on shares of CMS Energy in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, CMS Energy has a consensus rating of “Hold” and a consensus target price of $71.20.
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NYSE CMS traded up $0.82 on Thursday, reaching $63.55. 31,632 shares of the stock were exchanged, compared to its average volume of 1,787,440. CMS Energy has a one year low of $58.03 and a one year high of $73.76. The firm has a market capitalization of $18.44 billion, a PE ratio of 13.64, a PEG ratio of 2.65 and a beta of 0.26. The company’s 50-day simple moving average is $68.82 and its two-hundred day simple moving average is $66.51. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 1.68.
CMS Energy (NYSE:CMS – Get Rating) last posted its earnings results on Tuesday, May 3rd. The utilities provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.08 billion. CMS Energy had a net margin of 17.65% and a return on equity of 11.83%. CMS Energy’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Sell-side analysts forecast that CMS Energy will post 2.88 earnings per share for the current fiscal year.
In other news, CAO Scott B. Mcintosh sold 703 shares of the stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $71.21, for a total value of $50,060.63. Following the completion of the sale, the chief accounting officer now owns 24,196 shares in the company, valued at $1,722,997.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Dhenuvakonda Rao Venkat sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $69.20, for a total value of $69,200.00. Following the sale, the senior vice president now owns 35,241 shares of the company’s stock, valued at approximately $2,438,677.20. The disclosure for this sale can be found here. Insiders sold 3,706 shares of company stock worth $257,120 over the last 90 days. Company insiders own 0.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of CMS Energy in the 1st quarter worth $188,418,000. Magellan Asset Management Ltd boosted its position in CMS Energy by 743.3% during the first quarter. Magellan Asset Management Ltd now owns 2,417,560 shares of the utilities provider’s stock valued at $169,084,000 after purchasing an additional 2,130,886 shares during the last quarter. State Street Corp boosted its position in CMS Energy by 11.0% during the first quarter. State Street Corp now owns 16,331,901 shares of the utilities provider’s stock valued at $1,142,253,000 after purchasing an additional 1,613,255 shares during the last quarter. Echo Street Capital Management LLC lifted its position in shares of CMS Energy by 17,389.2% in the first quarter. Echo Street Capital Management LLC now owns 1,516,839 shares of the utilities provider’s stock worth $106,088,000 after buying an additional 1,508,166 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of CMS Energy by 4.1% in the fourth quarter. BlackRock Inc. now owns 26,291,806 shares of the utilities provider’s stock worth $1,710,283,000 after buying an additional 1,029,930 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.
CMS Energy Company Profile (Get Rating)
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.
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