KeyCorp Increases CMS Energy (NYSE:CMS) Price Target to $76.00

CMS Energy (NYSE:CMS) had its price objective hoisted by KeyCorp from $73.00 to $76.00 in a report issued on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the company. Guggenheim increased their target price on CMS Energy from $66.00 to $67.00 and gave the company a buy rating in a research note on Friday, July 26th. Scotiabank upped their target price on shares of CMS Energy from $66.00 to $75.00 and gave the company a sector outperform rating in a research note on Tuesday, August 20th. Barclays upped their price target on CMS Energy from $60.00 to $65.00 and gave the company an equal weight rating in a research report on Tuesday, August 13th. StockNews.com upgraded shares of CMS Energy from a sell rating to a hold rating in a research note on Monday, July 29th. Finally, Bank of America upped their price target on shares of CMS Energy from $69.00 to $73.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $69.38.

CMS Energy Stock Performance

Shares of CMS stock opened at $71.14 on Monday. The firm has a market cap of $21.24 billion, a P/E ratio of 21.69, a PEG ratio of 2.80 and a beta of 0.40. The stock’s 50-day moving average is $67.83 and its two-hundred day moving average is $62.95. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. CMS Energy has a fifty-two week low of $50.70 and a fifty-two week high of $71.57.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Analysts predict that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, August 2nd. CMS Energy’s dividend payout ratio is currently 62.80%.

Institutional Trading of CMS Energy

A number of large investors have recently made changes to their positions in CMS. JPMorgan Chase & Co. lifted its holdings in shares of CMS Energy by 14.0% during the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after purchasing an additional 2,786,071 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of CMS Energy by 101.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after buying an additional 3,473,977 shares during the period. Capital International Investors increased its position in shares of CMS Energy by 24.8% during the fourth quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock worth $360,537,000 after acquiring an additional 1,234,791 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of CMS Energy by 1.2% during the fourth quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider’s stock worth $324,817,000 after acquiring an additional 65,966 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in CMS Energy by 320.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock valued at $250,026,000 after acquiring an additional 3,282,697 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.

CMS Energy Company Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.