Mizuho Boosts CMS Energy (NYSE:CMS) Price Target to $76.00

CMS Energy (NYSE:CMS) had its price objective lifted by Mizuho from $65.00 to $76.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

A number of other brokerages also recently weighed in on CMS. Barclays boosted their price objective on shares of CMS Energy from $60.00 to $65.00 and gave the company an equal weight rating in a research report on Tuesday, August 13th. Evercore ISI upgraded shares of CMS Energy to a hold rating in a research report on Friday, July 26th. Wells Fargo & Company upped their target price on shares of CMS Energy from $66.00 to $70.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Scotiabank upped their target price on shares of CMS Energy from $66.00 to $75.00 and gave the stock a sector outperform rating in a research report on Tuesday, August 20th. Finally, Guggenheim upped their target price on shares of CMS Energy from $66.00 to $67.00 and gave the stock a buy rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $69.38.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $71.14 on Tuesday. 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 fifty-two week low of $50.70 and a fifty-two week high of $71.57. The firm has a 50-day simple moving average of $67.83 and a 200 day simple moving average of $62.95. The company has a market cap of $21.24 billion, a PE ratio of 21.69, a P/E/G ratio of 2.80 and a beta of 0.40.

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

CMS Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is presently 62.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in CMS Energy by 101.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after purchasing an additional 3,473,977 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in CMS Energy by 320.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock valued at $250,026,000 after purchasing an additional 3,282,697 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in CMS Energy by 14.0% during the first quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after purchasing an additional 2,786,071 shares during the last quarter. Capital International Investors lifted its stake in CMS Energy by 24.8% during the fourth quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock valued at $360,537,000 after purchasing an additional 1,234,791 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in CMS Energy by 105.9% during the second quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock valued at $92,623,000 after purchasing an additional 800,344 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors.

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.