CMS Energy (NYSE:CMS) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of CMS Energy (NYSE:CMS) from a hold rating to a sell rating in a research report report published on Wednesday morning.

A number of other research firms have also recently weighed in on CMS. KeyCorp upped their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Jefferies Financial Group started coverage on CMS Energy in a report on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price target for the company. BMO Capital Markets dropped their price objective on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Evercore ISI raised CMS Energy to a “hold” rating in a research report on Friday, July 26th. Finally, Bank of America raised their price target on shares of CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.29.

CMS Energy Stock Performance

Shares of NYSE:CMS opened at $68.52 on Wednesday. The business’s 50-day simple moving average is $69.73 and its 200 day simple moving average is $65.40. The company has a market cap of $20.47 billion, a P/E ratio of 19.58, a PEG ratio of 2.72 and a beta of 0.41. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23. CMS Energy has a one year low of $55.10 and a one year high of $72.40.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. On average, sell-side analysts forecast that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.515 per share. The ex-dividend date is Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 3.01%. CMS Energy’s dividend payout ratio is currently 58.86%.

Insiders Place Their Bets

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the completion of the sale, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. This represents a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of CMS Energy

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of CMS Energy by 171.9% during the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock valued at $31,000 after buying an additional 275 shares in the last quarter. Brooklyn Investment Group purchased a new stake in CMS Energy in the 3rd quarter worth about $40,000. Covestor Ltd boosted its position in CMS Energy by 206.1% during the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 472 shares during the period. TruNorth Capital Management LLC grew its stake in CMS Energy by 431.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 578 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of CMS Energy in the 2nd quarter valued at about $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.