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

CMS Energy (NYSE:CMS) had its target price raised by analysts at BMO Capital Markets from $63.00 to $64.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 9.97% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Guggenheim raised shares of CMS Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $60.00 to $64.00 in a research note on Friday, February 2nd. Wolfe Research upgraded shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research report on Tuesday, January 16th. JPMorgan Chase & Co. lifted their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Royal Bank of Canada lowered their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Finally, UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.64.

CMS Energy Trading Up 2.3 %

Shares of CMS stock traded up $1.31 during trading on Wednesday, hitting $58.20. 1,155,461 shares of the stock traded hands, compared to its average volume of 2,420,330. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66. The firm’s fifty day moving average price is $58.29 and its 200-day moving average price is $57.08. The firm has a market capitalization of $17.38 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 2.23 and a beta of 0.38.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results 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. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the company earned $0.60 earnings per share. CMS Energy’s quarterly revenue was down 14.4% compared to the same quarter last year. As a group, research analysts forecast that CMS Energy will post 3.33 earnings per share for the current fiscal year.

Insider Activity at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.78, for a total value of $202,230.00. Following the completion of the sale, the senior vice president now owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On CMS Energy

Hedge funds have recently made changes to their positions in the business. Headinvest LLC bought a new position in shares of CMS Energy in the third quarter worth about $26,000. Covington Capital Management bought a new position in CMS Energy during the third quarter valued at approximately $27,000. Scarborough Advisors LLC bought a new position in CMS Energy during the fourth quarter valued at approximately $29,000. Clear Street Markets LLC boosted its stake in CMS Energy by 94.9% during the first quarter. Clear Street Markets LLC now owns 573 shares of the utilities provider’s stock valued at $35,000 after buying an additional 279 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new position in CMS Energy during the third quarter valued at approximately $36,000. Institutional investors own 93.57% of the company’s stock.

About CMS Energy

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.