CMS Energy (CMS) PT Raised to $47.00
CMS Energy (NYSE:CMS) had its target price hoisted by KeyCorp from $46.00 to $47.00 in a report released on Wednesday. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective would suggest a potential upside of 1.89% from the company’s current price.
A number of other equities research analysts also recently commented on CMS. Zacks Investment Research downgraded CMS Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. SunTrust Banks set a $46.00 target price on shares of CMS Energy and gave the company a “hold” rating in a research note on Monday, March 19th. TheStreet downgraded shares of CMS Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 14th. Morgan Stanley boosted their target price on shares of CMS Energy from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, April 16th. Finally, Wells Fargo & Co cut their target price on shares of CMS Energy from $55.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $48.25.
Shares of NYSE:CMS opened at $46.13 on Wednesday. CMS Energy has a one year low of $40.48 and a one year high of $50.85. The firm has a market cap of $12.95 billion, a PE ratio of 21.26, a P/E/G ratio of 3.09 and a beta of 0.06. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.71.
In other news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $46.62, for a total value of $46,620.00. Following the transaction, the insider now directly owns 31,753 shares of the company’s stock, valued at $1,480,324.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Glenn P. Barba sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $46.85, for a total transaction of $468,500.00. Following the completion of the transaction, the vice president now directly owns 32,161 shares in the company, valued at $1,506,742.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,611 shares of company stock worth $817,617. Company insiders own 0.65% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Zions Bancorporation acquired a new position in shares of CMS Energy in the first quarter worth $119,000. Tower Research Capital LLC TRC increased its stake in shares of CMS Energy by 271.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 1,998 shares during the last quarter. Advisors Preferred LLC acquired a new position in shares of CMS Energy in the first quarter worth $139,000. Dupont Capital Management Corp acquired a new position in shares of CMS Energy in the first quarter worth $144,000. Finally, IFP Advisors Inc increased its stake in shares of CMS Energy by 49.7% in the first quarter. IFP Advisors Inc now owns 4,217 shares of the utilities provider’s stock worth $191,000 after acquiring an additional 1,400 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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