Bank of America Raises CMS Energy (NYSE:CMS) Price Target to $73.00

CMS Energy (NYSE:CMS) had its price objective boosted by equities research analysts at Bank of America from $69.00 to $73.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Bank of America‘s price target would indicate a potential upside of 8.53% from the company’s previous close.

CMS has been the topic of several other reports. Guggenheim boosted their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 26th. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. Morgan Stanley upped their price objective on shares of CMS Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their target price on shares of CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Barclays upped their price target on CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.33.

CMS Energy Trading Down 0.2 %

Shares of CMS Energy stock traded down $0.15 during mid-day trading on Thursday, hitting $67.26. The stock had a trading volume of 420,978 shares, compared to its average volume of 2,303,627. The firm has a 50-day moving average of $62.97 and a two-hundred day moving average of $60.88. The firm has a market cap of $20.09 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.64 and a beta of 0.38. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. CMS Energy has a 12-month low of $49.87 and a 12-month high of $68.08.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that CMS Energy will post 3.33 earnings per share for the current year.

Insider Activity

In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $60.79, for a total value of $143,464.40. Following the sale, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Brandon J. Hofmeister sold 1,667 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $59.98, for a total value of $99,986.66. Following the transaction, the senior vice president now directly owns 68,330 shares of the company’s stock, valued at approximately $4,098,433.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jon E. Barfield sold 2,360 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction of $143,464.40. Following the completion of the sale, the director now directly owns 14,556 shares of the company’s stock, valued at $884,859.24. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Institutional Trading of CMS Energy

A number of large investors have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in CMS Energy during the 4th quarter worth approximately $29,000. Voisard Asset Management Group Inc. purchased a new position in CMS Energy in the 4th quarter valued at $36,000. TruNorth Capital Management LLC increased its stake in CMS Energy by 431.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares during the period. Headlands Technologies LLC purchased a new position in CMS Energy during the 1st quarter worth $43,000. Finally, Innealta Capital LLC acquired a new stake in shares of CMS Energy in the 2nd quarter worth $43,000. 93.57% of the stock is owned by institutional investors and hedge funds.

About CMS Energy

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.