CMS Energy (NYSE:CMS) Downgraded to Neutral at Mizuho

Mizuho cut shares of CMS Energy (NYSE:CMS) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $72.00 price target on the utilities provider’s stock, down from their prior price target of $76.00.

A number of other research firms have also recently commented on CMS. Evercore ISI upgraded shares of CMS Energy to a hold rating in a research note on Friday, July 26th. KeyCorp lifted their target price on shares of CMS Energy from $73.00 to $76.00 and gave the company an overweight rating in a research note on Monday, September 30th. StockNews.com raised shares of CMS Energy from a sell rating to a hold rating in a report on Monday, July 29th. BMO Capital Markets raised their price target on CMS Energy from $69.00 to $76.00 and gave the company an outperform rating in a report on Monday, September 30th. Finally, Barclays upped their price objective 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. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, CMS Energy has an average rating of Moderate Buy and an average target price of $69.31.

CMS Energy Stock Up 0.6 %

CMS opened at $70.30 on Tuesday. CMS Energy has a 1-year low of $52.12 and a 1-year high of $71.57. The firm’s 50 day simple moving average is $68.65 and its two-hundred day simple moving average is $63.61. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $20.99 billion, a PE ratio of 21.43, a PEG ratio of 2.77 and a beta of 0.41.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. CMS Energy’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, equities analysts forecast that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.90%. The ex-dividend date was Friday, August 2nd. CMS Energy’s dividend payout ratio is presently 62.80%.

Hedge Funds Weigh In On CMS Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its position in shares of CMS Energy by 101.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after buying an additional 3,473,977 shares in the last quarter. JPMorgan Chase & Co. increased 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 worth $1,367,483,000 after acquiring an additional 2,786,071 shares during the last quarter. iA Global Asset Management Inc. raised its position 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 period. Railway Pension Investments Ltd bought a new stake in shares of CMS Energy in the 2nd quarter valued at approximately $47,082,000. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of CMS Energy by 221.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,113,989 shares of the utilities provider’s stock worth $67,218,000 after purchasing an additional 767,189 shares during the period. 93.57% 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. 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.