KeyCorp Boosts CMS Energy (NYSE:CMS) Price Target to $76.00

CMS Energy (NYSE:CMS) had its price target increased by KeyCorp from $73.00 to $76.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other research analysts also recently issued reports on the company. Evercore ISI upgraded CMS Energy to a hold rating in a research report on Friday, July 26th. Wells Fargo & Company raised their target price on shares of CMS Energy from $66.00 to $70.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Bank of America boosted their price target on CMS Energy from $69.00 to $73.00 and gave the company a buy rating in a research report on Thursday, August 29th. StockNews.com raised shares of CMS Energy from a sell rating to a hold rating in a research report on Monday, July 29th. Finally, Barclays increased their target price on CMS Energy from $60.00 to $65.00 and gave the company an equal weight rating in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $69.38.

CMS Energy Stock Down 0.2 %

CMS opened at $71.14 on Monday. The business has a 50 day simple moving average of $67.83 and a 200-day simple moving average of $62.95. The stock has a market capitalization of $21.24 billion, a P/E ratio of 21.69, a P/E/G ratio of 2.80 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. CMS Energy has a 12 month low of $50.70 and a 12 month high of $71.57.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. On average, equities analysts anticipate that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were issued a $0.51 dividend. The ex-dividend date was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

Institutional Trading of CMS Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC acquired a new stake in shares of CMS Energy during the 4th quarter worth approximately $29,000. Voisard Asset Management Group Inc. bought a new position in CMS Energy during the 4th quarter valued at $36,000. TruNorth Capital Management LLC boosted its stake in CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of CMS Energy in the 1st quarter worth approximately $43,000. Finally, Innealta Capital LLC acquired a new position in CMS Energy in the second quarter worth approximately $43,000. 93.57% of the stock is owned by institutional investors and hedge funds.

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.