CMS Energy (NYSE:CMS) Given New $76.00 Price Target at Evercore ISI

CMS Energy (NYSE:CMS) had its price objective raised by investment analysts at Evercore ISI from $73.00 to $76.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “in-line” rating on the utilities provider’s stock. Evercore ISI’s target price would suggest a potential upside of 3.12% from the stock’s current price.

CMS has been the topic of several other reports. Guggenheim reaffirmed a “neutral” rating and set a $69.00 target price on shares of CMS Energy in a report on Friday, February 7th. StockNews.com lowered CMS Energy from a “hold” rating to a “sell” rating in a research note on Friday, April 18th. Jefferies Financial Group upped their target price on CMS Energy from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Wells Fargo & Company raised their price target on CMS Energy from $78.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Bank of America upped their price objective on shares of CMS Energy from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 24th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, CMS Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.25.

CMS Energy Stock Performance

CMS opened at $73.70 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.79 and a quick ratio of 0.57. The business has a fifty day simple moving average of $72.83 and a 200 day simple moving average of $69.72. CMS Energy has a 1 year low of $58.50 and a 1 year high of $76.45. The company has a market capitalization of $22.02 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.56 and a beta of 0.34.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, April 24th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.03). CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm posted $0.97 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. Research analysts expect that CMS Energy will post 3.59 EPS for the current year.

Insider Activity at CMS Energy

In other CMS Energy news, CAO Scott B. Mcintosh sold 6,700 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $69.76, for a total value of $467,392.00. Following the completion of the transaction, the chief accounting officer now owns 21,643 shares of the company’s stock, valued at $1,509,815.68. This represents a 23.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura Wright sold 2,500 shares of CMS Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $69.84, for a total value of $174,600.00. Following the sale, the director now directly owns 38,790 shares in the company, valued at $2,709,093.60. The trade was a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,200 shares of company stock valued at $789,532 in the last quarter. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of CMS Energy by 32.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,256,949 shares of the utilities provider’s stock worth $950,227,000 after purchasing an additional 3,486,074 shares during the last quarter. Norges Bank acquired a new stake in shares of CMS Energy in the fourth quarter valued at about $171,798,000. Massachusetts Financial Services Co. MA raised its position in shares of CMS Energy by 28.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,741,389 shares of the utilities provider’s stock worth $649,264,000 after acquiring an additional 2,131,269 shares during the last quarter. Zimmer Partners LP acquired a new position in shares of CMS Energy in the fourth quarter worth approximately $89,173,000. Finally, GAMMA Investing LLC boosted its holdings in CMS Energy by 8,733.7% in the first quarter. GAMMA Investing LLC now owns 1,013,309 shares of the utilities provider’s stock valued at $76,110,000 after acquiring an additional 1,001,838 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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.