Morgan Stanley Increases CMS Energy (CMS) Price Target to $51.00
CMS Energy (NYSE:CMS) had its price target upped by Morgan Stanley from $49.00 to $51.00 in a research report report published on Tuesday. Morgan Stanley currently has a hold rating on the utilities provider’s stock.
Other equities research analysts have also recently issued research reports about the stock. Howard Weil restated a sector outperform rating on shares of CMS Energy in a research note on Tuesday, July 24th. Zacks Investment Research upgraded shares of CMS Energy from a hold rating to a buy rating and set a $48.00 target price on the stock in a research note on Thursday, June 14th. Barclays began coverage on shares of CMS Energy in a research note on Wednesday, August 15th. They set an equal weight rating and a $51.00 target price on the stock. Argus raised shares of CMS Energy from a hold rating to a buy rating in a report on Monday. Finally, Citigroup increased their price objective on shares of CMS Energy from $46.00 to $49.00 and gave the company a hold rating in a report on Monday, July 9th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $49.80.
NYSE CMS opened at $50.69 on Tuesday. CMS Energy has a 12 month low of $40.48 and a 12 month high of $50.85. The company has a market cap of $14.25 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 3.48 and a beta of 0.01. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 1.99.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 3rd were issued a dividend of $0.3575 per share. This represents a $1.43 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is currently 65.90%.
In related news, Director Jon E. Barfield sold 2,861 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $48.45, for a total value of $138,615.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $48.77, for a total transaction of $48,770.00. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
Several hedge funds have recently bought and sold shares of CMS. Bank of New York Mellon Corp grew its holdings in shares of CMS Energy by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 14,906,647 shares of the utilities provider’s stock valued at $704,787,000 after purchasing an additional 2,030,430 shares in the last quarter. BlackRock Inc. grew its holdings in shares of CMS Energy by 5.4% in the first quarter. BlackRock Inc. now owns 29,023,347 shares of the utilities provider’s stock valued at $1,314,466,000 after purchasing an additional 1,489,311 shares in the last quarter. Scout Investments Inc. grew its holdings in shares of CMS Energy by 2,602.1% in the second quarter. Scout Investments Inc. now owns 1,360,227 shares of the utilities provider’s stock valued at $64,312,000 after purchasing an additional 1,309,887 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of CMS Energy in the first quarter valued at $56,726,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of CMS Energy in the second quarter valued at $47,873,000. 89.62% of the stock is owned by hedge funds and other institutional investors.
CMS Energy Company Profile
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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