KeyCorp restated their buy rating on shares of CMS Energy Corporation (NYSE:CMS) in a research report released on Friday morning. They currently have a $51.00 target price on the utilities provider’s stock. KeyCorp also issued estimates for CMS Energy Corporation’s Q3 2017 earnings at $0.52 EPS.
Several other equities analysts have also weighed in on CMS. BidaskClub lowered CMS Energy Corporation from a strong-buy rating to a buy rating in a research note on Saturday, June 24th. Credit Suisse Group raised CMS Energy Corporation from a neutral rating to an outperform rating and increased their target price for the company from $46.00 to $50.00 in a research note on Monday, July 24th. BMO Capital Markets reaffirmed a buy rating and set a $48.00 price target on shares of CMS Energy Corporation in a research report on Monday, July 31st. Morgan Stanley began coverage on CMS Energy Corporation in a research report on Monday, July 31st. They set an equal weight rating and a $47.00 price target on the stock. Finally, Guggenheim began coverage on CMS Energy Corporation in a research report on Tuesday, September 5th. They set a neutral rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. CMS Energy Corporation has an average rating of Hold and an average target price of $48.56.
Shares of CMS Energy Corporation (CMS) opened at 48.18 on Friday. The firm has a market cap of $13.57 billion, a P/E ratio of 24.33 and a beta of 0.15. CMS Energy Corporation has a 12-month low of $38.78 and a 12-month high of $49.11. The firm’s 50-day moving average price is $47.38 and its 200 day moving average price is $46.77.
CMS Energy Corporation (NYSE:CMS) last released its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.08). CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company posted $0.45 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts expect that CMS Energy Corporation will post $2.17 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 3rd will be issued a dividend of $0.3325 per share. The ex-dividend date is Thursday, November 2nd. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.76%. CMS Energy Corporation’s payout ratio is presently 66.83%.
In related news, SVP Brian F. Rich sold 3,500 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $48.26, for a total transaction of $168,910.00. Following the completion of the transaction, the senior vice president now directly owns 44,835 shares in the company, valued at $2,163,737.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jon E. Barfield sold 6,336 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $46.81, for a total value of $296,588.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,836 shares of company stock valued at $561,118. 0.65% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Archford Capital Strategies LLC grew its holdings in shares of CMS Energy Corporation by 62.0% during the second quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock worth $122,000 after buying an additional 438 shares in the last quarter. Brookfield Asset Management Inc. bought a new position in shares of CMS Energy Corporation during the first quarter worth about $159,000. Meeder Asset Management Inc. bought a new position in shares of CMS Energy Corporation during the second quarter worth about $185,000. Trust Co. of Toledo NA OH bought a new position in shares of CMS Energy Corporation during the second quarter worth about $205,000. Finally, BlueMountain Capital Management LLC bought a new position in shares of CMS Energy Corporation during the second quarter worth about $217,000. Institutional investors and hedge funds own 87.27% of the company’s stock.
About CMS Energy Corporation
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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