CMS Energy Corporation (CMS) Receives $48.90 Consensus Target Price from Brokerages
Shares of CMS Energy Corporation (NYSE:CMS) have received an average recommendation of “Buy” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $48.90.
CMS has been the subject of a number of research analyst reports. BMO Capital Markets restated a “buy” rating and issued a $48.00 target price on shares of CMS Energy Corporation in a research note on Monday, July 31st. KeyCorp reiterated a “buy” rating and set a $51.00 price objective on shares of CMS Energy Corporation in a research note on Friday, September 1st. BidaskClub upgraded CMS Energy Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Bank of America Corporation began coverage on CMS Energy Corporation in a research note on Tuesday, October 24th. They set a “buy” rating and a $52.00 price objective for the company. Finally, Morgan Stanley began coverage on CMS Energy Corporation in a research note on Monday, July 31st. They set an “equal weight” rating and a $47.00 price objective for the company.
CMS Energy Corporation (NYSE:CMS) traded up $0.06 during midday trading on Wednesday, reaching $48.20. The company’s stock had a trading volume of 140,591 shares, compared to its average volume of 1,918,671. CMS Energy Corporation has a 1-year low of $38.78 and a 1-year high of $49.11. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 1.99. The stock has a market cap of $13,573.27, a PE ratio of 24.68, a P/E/G ratio of 3.43 and a beta of 0.18.
CMS Energy Corporation (NYSE:CMS) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. CMS Energy Corporation had a return on equity of 12.30% and a net margin of 8.38%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business posted $0.70 EPS. The business’s revenue was down 3.8% on a year-over-year basis. equities analysts forecast that CMS Energy Corporation will post 2.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 3rd will be issued a $0.3325 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 2nd. CMS Energy Corporation’s payout ratio is currently 68.91%.
In other CMS Energy Corporation news, insider Garrick J. Rochow sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $47.81, for a total transaction of $95,620.00. Following the completion of the sale, the insider now owns 64,307 shares of the company’s stock, valued at $3,074,517.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $48.02, for a total value of $48,020.00. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock valued at $312,550 in the last ninety days. 0.65% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CMS. BlackRock Inc. grew its holdings in CMS Energy Corporation by 11.6% during the second quarter. BlackRock Inc. now owns 25,533,148 shares of the utilities provider’s stock valued at $1,180,906,000 after purchasing an additional 2,653,503 shares during the period. JPMorgan Chase & Co. grew its holdings in CMS Energy Corporation by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 20,781,645 shares of the utilities provider’s stock valued at $961,152,000 after purchasing an additional 2,145,055 shares during the period. Eaton Vance Management grew its holdings in CMS Energy Corporation by 339.0% during the second quarter. Eaton Vance Management now owns 2,534,240 shares of the utilities provider’s stock valued at $117,209,000 after purchasing an additional 1,957,005 shares during the period. Janus Henderson Group PLC grew its holdings in CMS Energy Corporation by 3,063.0% during the second quarter. Janus Henderson Group PLC now owns 1,302,969 shares of the utilities provider’s stock valued at $60,263,000 after purchasing an additional 1,261,775 shares during the period. Finally, Brookfield Asset Management Inc. grew its holdings in CMS Energy Corporation by 25,046.4% during the second quarter. Brookfield Asset Management Inc. now owns 894,959 shares of the utilities provider’s stock valued at $41,392,000 after purchasing an additional 891,400 shares during the period. 87.15% of the stock is owned by institutional investors and hedge funds.
CMS Energy Corporation 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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