Goldman Sachs Group assumed coverage on shares of CMS Energy (NYSE:CMS) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued a neutral rating and a $52.00 price target on the utilities provider’s stock.
Other equities research analysts have also issued reports about the company. Citigroup increased their price target on CMS Energy from $49.00 to $51.00 and gave the company a hold rating in a research report on Tuesday, October 2nd. Wolfe Research downgraded CMS Energy from an outperform rating to a market perform rating in a research note on Friday, October 26th. Zacks Investment Research downgraded CMS Energy from a buy rating to a hold rating in a research note on Wednesday, December 12th. Barclays increased their price target on CMS Energy from $51.00 to $52.00 and gave the stock an equal weight rating in a research note on Monday, November 19th. Finally, Guggenheim reiterated a hold rating and set a $53.00 price target on shares of CMS Energy in a research note on Monday, January 7th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. CMS Energy currently has an average rating of Hold and a consensus price target of $52.58.
Shares of NYSE:CMS traded down $0.10 during trading on Wednesday, reaching $50.88. 2,254,263 shares of the stock were exchanged, compared to its average volume of 2,450,871. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 1.87. CMS Energy has a 1-year low of $40.48 and a 1-year high of $53.82. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 3.29 and a beta of 0.13.
CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, October 25th. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. CMS Energy had a return on equity of 14.88% and a net margin of 8.00%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. Equities research analysts anticipate that CMS Energy will post 2.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Friday, February 1st will be paid a $0.3825 dividend. The ex-dividend date is Thursday, January 31st. This represents a $1.53 annualized dividend and a yield of 3.01%. This is an increase from CMS Energy’s previous quarterly dividend of $0.36. CMS Energy’s dividend payout ratio (DPR) is currently 65.90%.
In other CMS Energy news, SVP Brian F. Rich sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $49.69, for a total value of $198,760.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandon J. Hofmeister sold 500 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $51.88, for a total value of $25,940.00. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of CMS. Baird Financial Group Inc. bought a new stake in shares of CMS Energy during the 2nd quarter valued at about $503,000. Raymond James & Associates raised its holdings in shares of CMS Energy by 4.2% during the 2nd quarter. Raymond James & Associates now owns 93,134 shares of the utilities provider’s stock valued at $4,403,000 after buying an additional 3,717 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of CMS Energy during the 2nd quarter valued at about $822,000. Paloma Partners Management Co purchased a new position in shares of CMS Energy during the 2nd quarter valued at about $774,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of CMS Energy during the 2nd quarter valued at about $274,000. Hedge funds and other institutional investors own 92.82% 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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