CMS Energy (NYSE:CMS) Stock Price Expected to Rise, Bank of America Analyst Says

CMS Energy (NYSE:CMS) had its price objective increased by stock analysts at Bank of America from $73.00 to $80.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Bank of America‘s price objective indicates a potential upside of 10.99% from the stock’s current price.

Several other brokerages have also issued reports on CMS. BMO Capital Markets increased their price target on CMS Energy from $73.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday. Barclays upgraded shares of CMS Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $75.00 in a report on Thursday, February 20th. Guggenheim reaffirmed a “neutral” rating and set a $69.00 price objective on shares of CMS Energy in a report on Friday, February 7th. UBS Group raised their price target on CMS Energy from $77.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Scotiabank upped their target price on shares of CMS Energy from $75.00 to $77.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, CMS Energy presently has an average rating of “Moderate Buy” and an average target price of $75.36.

CMS Energy Trading Down 1.4 %

Shares of CMS stock opened at $72.08 on Monday. CMS Energy has a twelve month low of $56.61 and a twelve month high of $75.06. The company has a quick ratio of 0.57, a current ratio of 0.79 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $21.54 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.56 and a beta of 0.35. The stock’s fifty day simple moving average is $70.11 and its 200 day simple moving average is $69.18.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. As a group, sell-side analysts predict that CMS Energy will post 3.59 EPS for the current fiscal year.

Insider Activity at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of CMS Energy stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $73.77, for a total value of $147,540.00. Following the completion of the transaction, the senior vice president now owns 71,931 shares of the company’s stock, valued at $5,306,349.87. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Scott B. Mcintosh sold 6,700 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $69.76, for a total transaction of $467,392.00. Following the sale, the chief accounting officer now owns 21,643 shares in the company, valued at approximately $1,509,815.68. The trade was a 23.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,200 shares of company stock worth $789,532 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CMS. BankPlus Trust Department bought a new position in shares of CMS Energy during the 4th quarter valued at $29,000. Richardson Financial Services Inc. lifted its position in shares of CMS Energy by 106.8% during the 4th quarter. Richardson Financial Services Inc. now owns 455 shares of the utilities provider’s stock valued at $30,000 after buying an additional 235 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of CMS Energy by 171.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 275 shares during the period. Brooklyn Investment Group purchased a new stake in CMS Energy in the 3rd quarter worth approximately $40,000. Finally, Larson Financial Group LLC raised its stake in CMS Energy by 2,900.0% during the 4th quarter. Larson Financial Group LLC now owns 720 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 696 shares during the period. 93.57% of the stock is owned by 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.