Barclays PLC Reiterates “Equal Weight” Rating for CMS Energy Co. (CMS)
Barclays PLC restated their equal weight rating on shares of CMS Energy Co. (NYSE:CMS) in a report released on Sunday morning. They currently have a $49.00 target price on the utilities provider’s stock, up from their prior target price of $44.00.
Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank AG raised their target price on shares of CMS Energy from $47.00 to $48.00 and gave the stock a buy rating in a report on Tuesday, April 11th. Royal Bank of Canada reiterated a hold rating and set a $46.00 price target on shares of CMS Energy in a research note on Wednesday, January 4th. Zacks Investment Research cut shares of CMS Energy from a hold rating to a sell rating in a research note on Tuesday, January 10th. Evercore ISI upgraded shares of CMS Energy to an outperform rating in a research note on Monday, March 6th. Finally, Credit Suisse Group AG started coverage on shares of CMS Energy in a research note on Wednesday, January 25th. They set a neutral rating and a $44.00 price target on the stock. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. CMS Energy has an average rating of Hold and a consensus target price of $46.44.
Shares of CMS Energy (NYSE:CMS) traded up 0.83% during mid-day trading on Friday, reaching $45.19. The company’s stock had a trading volume of 1,848,454 shares. The company has a 50-day moving average of $44.83 and a 200-day moving average of $42.41. The company has a market cap of $12.63 billion, a P/E ratio of 22.82 and a beta of 0.08. CMS Energy has a 12 month low of $38.78 and a 12 month high of $46.25.
CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, February 2nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. CMS Energy had a net margin of 8.61% and a return on equity of 13.31%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that CMS Energy will post $2.17 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Friday, May 5th will be paid a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Wednesday, May 3rd. CMS Energy’s dividend payout ratio is presently 66.83%.
Several hedge funds and other institutional investors have recently modified their holdings of CMS. Quadrant Capital Group LLC boosted its position in CMS Energy by 5.7% in the first quarter. Quadrant Capital Group LLC now owns 2,701 shares of the utilities provider’s stock worth $118,000 after buying an additional 145 shares during the period. Bessemer Group Inc. boosted its position in CMS Energy by 3,803.6% in the fourth quarter. Bessemer Group Inc. now owns 4,372 shares of the utilities provider’s stock worth $182,000 after buying an additional 4,260 shares during the period. Parametrica Management Ltd purchased a new position in CMS Energy during the first quarter worth $200,000. Brown Advisory Inc. purchased a new position in CMS Energy during the fourth quarter worth $203,000. Finally, IFM Investors Pty Ltd purchased a new position in CMS Energy during the fourth quarter worth $208,000. Institutional investors and hedge funds own 88.34% of the company’s stock.
About CMS Energy
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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