State Treasurer State of Michigan grew its stake in shares of CMS Energy Co. (NYSE:CMS) by 0.6% during the first quarter, Holdings Channel reports. The institutional investor owned 81,635 shares of the utilities provider’s stock after acquiring an additional 500 shares during the period. State Treasurer State of Michigan’s holdings in CMS Energy were worth $4,534,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of CMS Energy by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 15,234,196 shares of the utilities provider’s stock valued at $746,475,000 after buying an additional 112,508 shares in the last quarter. Legal & General Group Plc grew its stake in shares of CMS Energy by 1.3% in the third quarter. Legal & General Group Plc now owns 2,697,495 shares of the utilities provider’s stock valued at $132,170,000 after buying an additional 34,097 shares in the last quarter. Morgan Stanley grew its stake in shares of CMS Energy by 370.6% in the third quarter. Morgan Stanley now owns 2,348,333 shares of the utilities provider’s stock valued at $115,069,000 after buying an additional 1,849,279 shares in the last quarter. Vanguard Group Inc grew its stake in shares of CMS Energy by 2.2% in the third quarter. Vanguard Group Inc now owns 33,531,947 shares of the utilities provider’s stock valued at $1,643,065,000 after buying an additional 723,850 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new stake in shares of CMS Energy in the fourth quarter valued at about $57,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CMS traded up $0.24 during mid-day trading on Friday, reaching $56.46. 48,283 shares of the company’s stock traded hands, compared to its average volume of 1,911,394. CMS Energy Co. has a 1-year low of $42.52 and a 1-year high of $56.54. The company has a quick ratio of 0.92, a current ratio of 1.13 and a debt-to-equity ratio of 2.29. The firm has a market cap of $15.85 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.51 and a beta of 0.18.
CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). CMS Energy had a net margin of 9.01% and a return on equity of 13.16%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business earned $0.86 EPS. CMS Energy’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts anticipate that CMS Energy Co. will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.3825 per share. The ex-dividend date is Thursday, May 2nd. This represents a $1.53 dividend on an annualized basis and a yield of 2.71%. CMS Energy’s dividend payout ratio (DPR) is presently 65.67%.
In other CMS Energy news, SVP Catherine M. Reynolds sold 6,203 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $54.63, for a total transaction of $338,869.89. Following the transaction, the senior vice president now owns 121,211 shares of the company’s stock, valued at approximately $6,621,756.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Glenn P. Barba sold 8,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $54.95, for a total value of $467,075.00. Following the transaction, the vice president now directly owns 28,555 shares in the company, valued at approximately $1,569,097.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,503 shares of company stock valued at $1,735,825. 0.52% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered CMS Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Credit Suisse Group set a $58.00 target price on CMS Energy and gave the company a “buy” rating in a research note on Monday, April 22nd. Morgan Stanley increased their target price on CMS Energy from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday. Argus increased their target price on CMS Energy from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, February 22nd. Finally, Bank of America upgraded CMS Energy from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.31.
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About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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