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

CMS Energy (NYSE:CMS - Get Free Report) had its price objective increased by research analysts at Wells Fargo & Company from $70.00 to $77.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's target price indicates a potential upside of 8.19% from the stock's previous close.

Other analysts also recently issued research reports about the company. StockNews.com upgraded CMS Energy from a "sell" rating to a "hold" rating in a report on Monday, July 29th. BMO Capital Markets upped their price target on CMS Energy from $69.00 to $76.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. Morgan Stanley lifted their price objective on shares of CMS Energy from $63.00 to $68.00 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. Barclays increased their target price on shares of CMS Energy from $65.00 to $68.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, KeyCorp boosted their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.85.

CMS Energy Trading Up 1.2 %

CMS traded up $0.87 during midday trading on Wednesday, reaching $71.17. 1,738,986 shares of the company were exchanged, compared to its average volume of 2,290,369. CMS Energy has a one year low of $52.12 and a one year high of $71.57. The stock has a market capitalization of $21.25 billion, a P/E ratio of 21.63, a PEG ratio of 2.77 and a beta of 0.41. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The stock's 50-day simple moving average is $68.65 and its 200 day simple moving average is $63.61.

CMS Energy (NYSE:CMS - Get Free Report) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts forecast that CMS Energy will post 3.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMS. Mackenzie Financial Corp increased its position in shares of CMS Energy by 0.6% in the second quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider's stock worth $1,511,000 after purchasing an additional 157 shares during the period. Continuum Advisory LLC increased its stake in shares of CMS Energy by 9.6% in the second quarter. Continuum Advisory LLC now owns 2,330 shares of the utilities provider's stock valued at $139,000 after buying an additional 205 shares during the period. Tobam raised its holdings in CMS Energy by 31.7% in the 3rd quarter. Tobam now owns 868 shares of the utilities provider's stock valued at $61,000 after buying an additional 209 shares during the last quarter. Vontobel Holding Ltd. boosted its position in CMS Energy by 5.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 4,262 shares of the utilities provider's stock worth $301,000 after buying an additional 215 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in CMS Energy by 6.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,767 shares of the utilities provider's stock worth $224,000 after acquiring an additional 236 shares during the last quarter. 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.