Morgan Stanley Cuts CMS Energy (NYSE:CMS) Price Target to $59.00
CMS Energy (NYSE:CMS) had its price objective reduced by Morgan Stanley from $60.00 to $59.00 in a report issued on Friday morning, AnalystRatings.com reports. They currently have an equal weight rating on the utilities provider’s stock.
Other equities analysts have also recently issued research reports about the stock. Barclays reissued a hold rating and set a $61.00 target price on shares of CMS Energy in a research report on Thursday, June 20th. Zacks Investment Research raised shares of CMS Energy from a sell rating to a hold rating and set a $62.00 target price on the stock in a research report on Tuesday, July 23rd. Argus set a $66.00 target price on shares of CMS Energy and gave the stock a buy rating in a research report on Monday, August 12th. Credit Suisse Group set a $58.00 target price on shares of CMS Energy and gave the stock a buy rating in a research report on Monday, April 22nd. Finally, KeyCorp assumed coverage on shares of CMS Energy in a research report on Tuesday, June 4th. They set a sector weight rating on the stock. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $57.33.
CMS stock opened at $61.57 on Friday. The company has a market capitalization of $17.39 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 3.84 and a beta of 0.15. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.71 and a current ratio of 0.94. CMS Energy has a 52-week low of $47.63 and a 52-week high of $61.95. The business has a 50-day simple moving average of $59.09 and a two-hundred day simple moving average of $56.26.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a $0.3825 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.53 dividend on an annualized basis and a dividend yield of 2.48%. CMS Energy’s dividend payout ratio (DPR) is presently 65.67%.
In related news, insider Brian F. Rich sold 4,000 shares of CMS Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $59.70, for a total value of $238,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John G. Russell sold 5,600 shares of CMS Energy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $57.46, for a total transaction of $321,776.00. Following the completion of the sale, the director now directly owns 296,311 shares in the company, valued at approximately $17,026,030.06. The disclosure for this sale can be found here. Insiders sold a total of 50,453 shares of company stock worth $2,995,335 in the last ninety days. 0.52% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CMS. JPMorgan Chase & Co. raised its holdings in shares of CMS Energy by 6.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,830,525 shares of the utilities provider’s stock worth $967,922,000 after purchasing an additional 1,064,151 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of CMS Energy by 316.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,226,800 shares of the utilities provider’s stock worth $71,044,000 after purchasing an additional 932,469 shares during the period. Pictet Asset Management Ltd. raised its holdings in shares of CMS Energy by 26.6% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,041,468 shares of the utilities provider’s stock worth $234,041,000 after purchasing an additional 849,647 shares during the period. Janus Henderson Group PLC raised its holdings in shares of CMS Energy by 72.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,018,706 shares of the utilities provider’s stock worth $112,118,000 after purchasing an additional 846,801 shares during the period. Finally, Scout Investments Inc. raised its holdings in shares of CMS Energy by 72.4% in the 2nd quarter. Scout Investments Inc. now owns 1,508,302 shares of the utilities provider’s stock worth $87,346,000 after purchasing an additional 633,549 shares during the period. 91.90% of the stock is currently owned by institutional investors.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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