CMS Energy Co. (NYSE:CMS) declared a quarterly dividend on Thursday, October 18th, RTT News reports. Investors of record on Friday, November 2nd will be given a dividend of 0.3575 per share by the utilities provider on Friday, November 30th. This represents a $1.43 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, November 1st.
CMS Energy has raised its dividend by an average of 7.2% per year over the last three years and has increased its dividend every year for the last 6 years. CMS Energy has a dividend payout ratio of 61.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect CMS Energy to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.43 annual dividend with an expected future payout ratio of 57.2%.
CMS traded up $0.64 on Friday, hitting $50.14. The company had a trading volume of 3,453,564 shares, compared to its average volume of 3,051,662. The firm has a market cap of $14.06 billion and a P/E ratio of 23.11. CMS Energy has a 12-month low of $40.48 and a 12-month high of $51.91. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.87.
CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, October 25th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. CMS Energy had a return on equity of 14.88% and a net margin of 8.00%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, research analysts forecast that CMS Energy will post 2.34 earnings per share for the current fiscal year.
In other news, SVP Brian F. Rich sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $49.69, for a total transaction of $198,760.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jon E. Barfield sold 2,861 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $48.45, for a total value of $138,615.45. The disclosure for this sale can be found here. Insiders sold 7,861 shares of company stock valued at $386,145 in the last three months. 0.65% of the stock is currently owned by insiders.
Several brokerages have issued reports on CMS. SunTrust Banks restated a “hold” rating and set a $50.00 target price on shares of CMS Energy in a research report on Wednesday. Howard Weil reiterated a “sector outperform” rating on shares of CMS Energy in a report on Tuesday, July 24th. Morgan Stanley lowered their price target on CMS Energy from $51.00 to $50.00 and set a “hold” rating for the company in a report on Friday, September 21st. Citigroup boosted their price target on CMS Energy from $49.00 to $51.00 and gave the company a “hold” rating in a report on Tuesday, October 2nd. Finally, KeyCorp boosted their price target on CMS Energy from $47.00 to $49.00 and gave the company a “$47.86” rating in a report on Thursday, July 19th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.40.
CMS Energy Company Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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