BMO Capital Markets Issues Pessimistic Forecast for CMS Energy (NYSE:CMS) Stock Price

CMS Energy (NYSE:CMS) had its price target cut by equities researchers at BMO Capital Markets from $77.00 to $76.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 9.83% from the company’s current price.

CMS has been the topic of several other reports. Wells Fargo & Company upped their price objective on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Morgan Stanley boosted their price objective on shares of CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. KeyCorp increased their target price on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Guggenheim boosted their price target on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, CMS Energy has a consensus rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Stock Performance

CMS Energy stock traded down $0.41 during mid-day trading on Friday, reaching $69.20. The company’s stock had a trading volume of 752,489 shares, compared to its average volume of 2,246,565. The company has a market capitalization of $20.67 billion, a P/E ratio of 21.23, a PEG ratio of 2.79 and a beta of 0.41. The firm’s fifty day moving average price is $69.78 and its two-hundred day moving average price is $64.54. CMS Energy has a 12-month low of $54.13 and a 12-month high of $72.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm earned $0.61 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that CMS Energy will post 3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On CMS Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMS. Mackenzie Financial Corp boosted its stake in CMS Energy by 0.6% during the second quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider’s stock worth $1,511,000 after acquiring an additional 157 shares in the last quarter. Voisard Asset Management Group Inc. increased its position in CMS Energy by 25.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock valued at $56,000 after buying an additional 163 shares in the last quarter. Continuum Advisory LLC boosted its holdings in CMS Energy by 9.6% in the second quarter. Continuum Advisory LLC now owns 2,330 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 205 shares in the last quarter. Tobam grew its stake in shares of CMS Energy by 31.7% in the third quarter. Tobam now owns 868 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 209 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of CMS Energy by 5.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,262 shares of the utilities provider’s stock worth $301,000 after purchasing an additional 215 shares during the last quarter. 93.57% of the stock is owned by hedge funds and other 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.