Barclays began coverage on shares of CMS Energy (NYSE:CMS) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $51.00 price objective on the utilities provider’s stock.
A number of other research analysts also recently commented on CMS. KeyCorp boosted their price target on CMS Energy from $45.00 to $46.00 and gave the company an overweight rating in a research note on Wednesday, April 18th. TheStreet raised CMS Energy from a c+ rating to an a- rating in a research note on Thursday, April 26th. Zacks Investment Research downgraded CMS Energy from a buy rating to a hold rating in a research note on Wednesday, May 16th. ValuEngine downgraded CMS Energy from a hold rating to a sell rating in a research note on Wednesday, June 6th. Finally, Morgan Stanley dropped their price target on CMS Energy from $47.00 to $45.00 and set an equal weight rating for the company in a research note on Wednesday, June 13th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $48.82.
CMS stock opened at $49.89 on Wednesday. The stock has a market capitalization of $13.70 billion, a P/E ratio of 22.99, a P/E/G ratio of 3.35 and a beta of 0.06. CMS Energy has a 52 week low of $40.48 and a 52 week high of $50.85. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.68.
CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, July 26th. The utilities provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.38 billion. CMS Energy had a return on equity of 15.14% and a net margin of 8.13%. CMS Energy’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. sell-side analysts predict that CMS Energy will post 2.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 3rd will be paid a dividend of $0.3575 per share. This represents a $1.43 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, August 2nd. CMS Energy’s payout ratio is 65.90%.
In other CMS Energy news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $48.77, for a total transaction of $48,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jon E. Barfield sold 2,861 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $48.45, for a total value of $138,615.45. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation bought a new stake in shares of CMS Energy during the first quarter worth about $119,000. Advisors Preferred LLC bought a new stake in shares of CMS Energy during the first quarter worth about $139,000. Dupont Capital Management Corp bought a new stake in shares of CMS Energy during the first quarter worth about $144,000. Bronfman E.L. Rothschild L.P. grew its holdings in shares of CMS Energy by 267.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,128 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 2,276 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of CMS Energy during the second quarter worth about $156,000. 90.06% of the stock is owned by hedge funds and other institutional investors.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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