CMS Energy (NYSE:CMS) Reaches New 52-Week High – Here’s What Happened

CMS Energy Co. (NYSE:CMS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $71.57 and last traded at $71.43, with a volume of 111952 shares. The stock had previously closed at $71.03.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Guggenheim increased their target price on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 26th. Mizuho lowered CMS Energy from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. Finally, Morgan Stanley upped their price objective on shares of CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, CMS Energy presently has an average rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Trading Down 0.5 %

The stock has a market cap of $21.43 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.77 and a beta of 0.41. The business’s 50 day moving average is $69.32 and its 200 day moving average is $64.08. 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 (NYSE:CMS) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 2.87%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, November 13th. CMS Energy’s dividend payout ratio is 62.80%.

Hedge Funds Weigh In On CMS Energy

Several hedge funds have recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC boosted its holdings in shares of CMS Energy by 431.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares in the last quarter. Headlands Technologies LLC acquired a new position in CMS Energy in the first quarter valued at $43,000. Innealta Capital LLC acquired a new position in CMS Energy in the second quarter valued at $43,000. Values First Advisors Inc. purchased a new position in shares of CMS Energy during the third quarter worth about $56,000. Finally, Tobam increased its position in shares of CMS Energy by 31.7% during the third quarter. Tobam now owns 868 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 209 shares in the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

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.