SunTrust Banks restated their hold rating on shares of CMS Energy (NYSE:CMS) in a research note issued to investors on Monday, January 29th. SunTrust Banks currently has a $45.00 price objective on the utilities provider’s stock.
A number of other equities research analysts have also recently commented on CMS. Zacks Investment Research cut CMS Energy from a hold rating to a sell rating in a research note on Friday, October 13th. KeyCorp reissued a buy rating and issued a $51.00 price objective on shares of CMS Energy in a research note on Friday, October 20th. Bank of America initiated coverage on CMS Energy in a report on Tuesday, October 24th. They issued a buy rating and a $52.00 target price on the stock. Morgan Stanley restated an equal weight rating and issued a $52.00 target price on shares of CMS Energy in a report on Wednesday, December 13th. Finally, Wells Fargo & Co upgraded CMS Energy from a market perform rating to an outperform rating in a report on Monday, December 18th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $49.05.
Shares of CMS Energy (NYSE:CMS) opened at $42.88 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 1.99. CMS Energy has a one year low of $40.48 and a one year high of $50.85. The company has a market capitalization of $12,070.00, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 2.87 and a beta of 0.09.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th will be given a $0.3575 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.33. This represents a $1.43 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, February 15th. CMS Energy’s dividend payout ratio (DPR) is currently 68.91%.
In other CMS Energy news, insider David G. Mengebier sold 2,500 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $49.48, for a total value of $123,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of CMS Energy by 8.6% in the fourth quarter. BlackRock Inc. now owns 27,534,036 shares of the utilities provider’s stock valued at $1,302,359,000 after purchasing an additional 2,182,812 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of CMS Energy by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 21,476,208 shares of the utilities provider’s stock valued at $995,424,000 after purchasing an additional 694,563 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of CMS Energy by 4.4% in the third quarter. Bank of New York Mellon Corp now owns 14,018,642 shares of the utilities provider’s stock valued at $649,344,000 after purchasing an additional 596,628 shares in the last quarter. Capital International Investors grew its position in shares of CMS Energy by 68.9% in the third quarter. Capital International Investors now owns 9,853,468 shares of the utilities provider’s stock valued at $456,413,000 after purchasing an additional 4,018,068 shares in the last quarter. Finally, Legal & General Group Plc grew its position in CMS Energy by 4.8% during the third quarter. Legal & General Group Plc now owns 2,413,120 shares of the utilities provider’s stock worth $111,775,000 after buying an additional 109,515 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.
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CMS Energy Company Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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