CMS Energy (CMS) Given “Equal Weight” Rating at Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of CMS Energy (NYSE:CMS) in a research note issued to investors on Wednesday. Morgan Stanley currently has a $52.00 target price on the utilities provider’s stock.

A number of other brokerages have also recently commented on CMS. Royal Bank of Canada restated a hold rating and set a $46.00 price objective on shares of CMS Energy in a research note on Monday, September 11th. KeyCorp restated a buy rating and set a $51.00 price objective on shares of CMS Energy in a research note on Friday, September 1st. Guggenheim began coverage on CMS Energy in a research note on Tuesday, September 5th. They set a neutral rating and a $48.00 price objective on the stock. BidaskClub upgraded CMS Energy from a hold rating to a buy rating in a research note on Saturday, August 19th. Finally, Bank of America began coverage on CMS Energy in a research note on Tuesday, October 24th. They set a buy rating and a $52.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $49.10.

Shares of CMS Energy (NYSE:CMS) traded up $0.08 during trading on Wednesday, reaching $49.25. The company had a trading volume of 1,569,400 shares, compared to its average volume of 1,838,459. CMS Energy has a 52-week low of $40.39 and a 52-week high of $50.85. The firm has a market capitalization of $13,866.56, a PE ratio of 25.22, a P/E/G ratio of 3.50 and a beta of 0.19. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 1.99.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. CMS Energy had a return on equity of 12.30% and a net margin of 8.38%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. analysts predict that CMS Energy will post 2.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Friday, November 3rd were paid a $0.3325 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, November 2nd. CMS Energy’s dividend payout ratio (DPR) is 68.91%.

In other news, insider David G. Mengebier sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $49.48, for a total transaction of $123,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $48.02, for a total value of $48,020.00. Following the transaction, the insider now owns 28,176 shares of the company’s stock, valued at $1,353,011.52. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of CMS Energy by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 29,277,644 shares of the utilities provider’s stock valued at $1,354,091,000 after acquiring an additional 764,989 shares during the last quarter. BlackRock Inc. lifted its position in shares of CMS Energy by 11.6% during the 2nd quarter. BlackRock Inc. now owns 25,533,148 shares of the utilities provider’s stock valued at $1,180,906,000 after acquiring an additional 2,653,503 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CMS Energy by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,476,208 shares of the utilities provider’s stock valued at $995,424,000 after acquiring an additional 694,563 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of CMS Energy by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 14,018,642 shares of the utilities provider’s stock valued at $649,344,000 after acquiring an additional 596,628 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of CMS Energy by 68.9% during the 3rd quarter. Capital International Investors now owns 9,853,468 shares of the utilities provider’s stock valued at $456,413,000 after acquiring an additional 4,018,068 shares during the last quarter. Hedge funds and other institutional investors own 87.42% of the company’s stock.

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CMS Energy 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.

Analyst Recommendations for CMS Energy (NYSE:CMS)

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