SunTrust Banks reaffirmed their hold rating on shares of CMS Energy (NYSE:CMS) in a research report sent to investors on Wednesday morning. They currently have a $50.00 price objective on the utilities provider’s stock.
A number of other equities analysts have also recently issued reports on CMS. Morgan Stanley lifted their target price on CMS Energy from $45.00 to $49.00 and gave the stock an equal weight rating in a report on Monday, July 16th. KeyCorp lifted their price target on CMS Energy from $47.00 to $49.00 and gave the company a $47.86 rating in a report on Thursday, July 19th. Howard Weil reiterated a sector outperform rating on shares of CMS Energy in a report on Tuesday, July 24th. Barclays initiated coverage on CMS Energy in a report on Wednesday, August 15th. They set an equal weight rating and a $51.00 price target on the stock. Finally, Argus upgraded CMS Energy from a hold rating to a buy rating in a report on Monday, September 10th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $51.40.
Shares of NYSE CMS traded up $0.64 during mid-day trading on Wednesday, reaching $50.14. The company had a trading volume of 3,453,564 shares, compared to its average volume of 3,051,662. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $14.06 billion and a price-to-earnings ratio of 23.11. CMS Energy has a 1-year low of $40.48 and a 1-year high of $51.91.
CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, October 25th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.53 billion. CMS Energy had a return on equity of 14.88% and a net margin of 8.00%. During the same period in the previous year, the firm posted $0.62 EPS. As a group, analysts anticipate that CMS Energy will post 2.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be issued a dividend of $0.3575 per share. The ex-dividend date is Thursday, November 1st. This represents a $1.43 dividend on an annualized basis and a dividend yield of 2.85%. CMS Energy’s dividend payout ratio is 65.90%.
In other CMS Energy news, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian F. Rich sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $49.69, for a total value of $198,760.00. The disclosure for this sale can be found here. Insiders have sold 7,861 shares of company stock worth $386,145 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. purchased a new position in CMS Energy in the third quarter valued at about $134,000. Bronfman E.L. Rothschild L.P. grew its stake in CMS Energy by 267.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,128 shares of the utilities provider’s stock valued at $148,000 after purchasing an additional 2,276 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in CMS Energy in the second quarter valued at about $156,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in CMS Energy in the third quarter valued at about $221,000. Finally, MAI Capital Management purchased a new position in CMS Energy in the second quarter valued at about $229,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.
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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