Scotiabank Trims CMS Energy (NYSE:CMS) Target Price to $66.00

CMS Energy (NYSE:CMS) had its price target trimmed by Scotiabank from $67.00 to $66.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a sector outperform rating on the utilities provider’s stock.

CMS has been the topic of several other reports. Wolfe Research raised shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 target price on the stock in a research note on Tuesday, January 16th. Guggenheim raised shares of CMS Energy from a neutral rating to a buy rating and increased their target price for the stock from $60.00 to $64.00 in a research note on Friday, February 2nd. BMO Capital Markets increased their target price on shares of CMS Energy from $63.00 to $64.00 and gave the stock an outperform rating in a research note on Wednesday, April 17th. KeyCorp increased their target price on shares of CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Finally, Barclays lowered their target price on shares of CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $63.00.

CMS Energy Price Performance

NYSE:CMS opened at $60.28 on Monday. CMS Energy has a one year low of $49.87 and a one year high of $63.76. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.33 and a beta of 0.38. The firm’s fifty day moving average is $58.65 and its two-hundred day moving average is $57.36.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis. Research analysts expect that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a $0.515 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a yield of 3.42%. CMS Energy’s payout ratio is 68.44%.

Insider Buying and Selling at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the completion of the sale, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

Institutional Trading of CMS Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headinvest LLC acquired a new stake in shares of CMS Energy during the 3rd quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of CMS Energy during the 4th quarter worth approximately $29,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of CMS Energy during the 3rd quarter worth approximately $36,000. Voisard Asset Management Group Inc. acquired a new stake in shares of CMS Energy during the 4th quarter worth approximately $36,000. Finally, Tobam increased its holdings in shares of CMS Energy by 2,432.3% during the 4th quarter. Tobam now owns 785 shares of the utilities provider’s stock worth $46,000 after buying an additional 754 shares during the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

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.