BMO Capital Markets Boosts CMS Energy (NYSE:CMS) Price Target to $64.00

CMS Energy (NYSE:CMS) had its price objective increased by equities research analysts at BMO Capital Markets from $63.00 to $64.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ target price points to a potential upside of 9.97% from the stock’s current price.

Several other analysts have also weighed in on CMS. Royal Bank of Canada decreased their price objective on CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. Seaport Res Ptn lowered CMS Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Barclays decreased their price target on CMS Energy from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday. Guggenheim raised CMS Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $60.00 to $64.00 in a research note on Friday, February 2nd. Finally, Wolfe Research raised CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CMS Energy currently has an average rating of “Moderate Buy” and an average price target of $62.64.

CMS Energy Stock Up 2.3 %

Shares of CMS traded up $1.31 during midday trading on Wednesday, reaching $58.20. 1,155,461 shares of the stock were exchanged, compared to its average volume of 2,420,330. CMS Energy has a 12-month low of $49.87 and a 12-month high of $63.76. The firm has a 50 day simple moving average of $58.29 and a 200-day simple moving average of $57.08. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 2.23 and a beta of 0.38.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.62 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The firm’s revenue was down 14.4% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. Research analysts forecast that CMS Energy will post 3.33 EPS for the current year.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the sale, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMS. Headinvest LLC acquired a new position in shares of CMS Energy during the third quarter worth about $26,000. Covington Capital Management acquired a new position in shares of CMS Energy during the third quarter worth about $27,000. Scarborough Advisors LLC acquired a new position in shares of CMS Energy during the fourth quarter worth about $29,000. Clear Street Markets LLC raised its holdings in CMS Energy by 94.9% during the first quarter. Clear Street Markets LLC now owns 573 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 279 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new position in CMS Energy during the third quarter valued at approximately $36,000. 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.