CMS Energy (NYSE:CMS) Given New $77.00 Price Target at Wells Fargo & Company

CMS Energy (NYSE:CMS) had its target price upped by stock analysts at Wells Fargo & Company from $70.00 to $77.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.56% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Scotiabank increased their price objective on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Morgan Stanley upped their target price on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. KeyCorp lifted their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Mizuho cut shares of CMS Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $76.00 to $72.00 in a research note on Tuesday. Finally, StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, CMS Energy has a consensus rating of “Moderate Buy” and an average target price of $69.85.

CMS Energy Stock Performance

CMS traded up $0.63 during trading hours on Wednesday, hitting $70.93. The stock had a trading volume of 223,742 shares, compared to its average volume of 2,282,793. The stock has a market cap of $21.18 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.77 and a beta of 0.41. CMS Energy has a 1 year low of $52.12 and a 1 year high of $71.57. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. The company’s fifty day simple moving average is $68.65 and its 200 day simple moving average is $63.61.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS 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 company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted $0.75 EPS. CMS Energy’s revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that CMS Energy will post 3.33 earnings per share for the current year.

Hedge Funds Weigh In On CMS Energy

Institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after buying an additional 3,473,977 shares during the period. JPMorgan Chase & Co. grew its holdings in CMS Energy by 14.0% in the first quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after purchasing an additional 2,786,071 shares during the period. iA Global Asset Management Inc. increased its stake in shares of 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 in the last quarter. Railway Pension Investments Ltd bought a new position in shares of CMS Energy during the second quarter valued at approximately $47,082,000. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of CMS Energy by 221.2% during the first quarter. Lord Abbett & CO. LLC now owns 1,113,989 shares of the utilities provider’s stock valued at $67,218,000 after purchasing an additional 767,189 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

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.