Morgan Stanley Raises CMS Energy (CMS) Price Target to $57.00

CMS Energy (NYSE:CMS) had its price target boosted by Morgan Stanley from $56.00 to $57.00 in a research note released on Thursday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded CMS Energy from a hold rating to a sell rating in a research report on Monday, March 25th. SunTrust Banks reissued a hold rating and set a $56.00 price target on shares of CMS Energy in a research report on Monday, February 25th. Argus raised their price objective on CMS Energy from $56.00 to $58.00 and gave the stock a buy rating in a report on Friday, February 22nd. Credit Suisse Group set a $58.00 price objective on CMS Energy and gave the stock a buy rating in a report on Monday, April 22nd. Finally, Goldman Sachs Group started coverage on CMS Energy in a report on Wednesday, January 16th. They set a neutral rating and a $52.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $55.31.

CMS Energy stock opened at $56.46 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.13 and a debt-to-equity ratio of 2.29. The firm has a market cap of $16.02 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 3.55 and a beta of 0.18. CMS Energy has a fifty-two week low of $42.52 and a fifty-two week high of $56.81.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.96 billion. CMS Energy had a return on equity of 13.16% and a net margin of 9.01%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. On average, research analysts anticipate that CMS Energy will post 2.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.3825 per share. This represents a $1.53 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, May 2nd. CMS Energy’s dividend payout ratio (DPR) is 65.67%.

In other news, SVP Catherine M. Reynolds sold 6,203 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $54.63, for a total transaction of $338,869.89. Following the sale, the senior vice president now owns 121,211 shares in the company, valued at $6,621,756.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John G. Russell sold 16,800 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $55.35, for a total value of $929,880.00. Following the sale, the director now owns 299,196 shares in the company, valued at approximately $16,560,498.60. The disclosure for this sale can be found here. Insiders have sold 31,503 shares of company stock worth $1,735,825 in the last 90 days. Insiders own 0.52% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc boosted its holdings in CMS Energy by 2.2% in the third quarter. Vanguard Group Inc now owns 33,531,947 shares of the utilities provider’s stock valued at $1,643,065,000 after acquiring an additional 723,850 shares during the last quarter. BlackRock Inc. boosted its holdings in CMS Energy by 4.3% in the fourth quarter. BlackRock Inc. now owns 26,150,756 shares of the utilities provider’s stock valued at $1,298,384,000 after acquiring an additional 1,069,422 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in CMS Energy by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 15,766,374 shares of the utilities provider’s stock valued at $875,664,000 after acquiring an additional 175,679 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CMS Energy by 11.1% in the first quarter. Geode Capital Management LLC now owns 4,152,145 shares of the utilities provider’s stock valued at $230,226,000 after acquiring an additional 414,707 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in CMS Energy by 1.2% in the first quarter. Northern Trust Corp now owns 3,662,432 shares of the utilities provider’s stock valued at $203,411,000 after acquiring an additional 44,908 shares during the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

CMS Energy Company Profile

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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Analyst Recommendations for CMS Energy (NYSE:CMS)

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