Legal & General Group Plc lifted its stake in CMS Energy Co. (NYSE:CMS) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,704,064 shares of the utilities provider’s stock after purchasing an additional 206,388 shares during the period. Legal & General Group Plc’s holdings in CMS Energy were worth $217,697,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Wealth Quarterback LLC purchased a new stake in CMS Energy during the 4th quarter worth about $12,589,610,000. Norges Bank purchased a new stake in CMS Energy during the 4th quarter worth about $118,033,000. Artisan Partners Limited Partnership purchased a new stake in CMS Energy during the 4th quarter worth about $54,522,000. Pictet Asset Management Ltd. lifted its holdings in CMS Energy by 18.3% during the 4th quarter. Pictet Asset Management Ltd. now owns 5,566,437 shares of the utilities provider’s stock worth $349,795,000 after buying an additional 860,791 shares during the last quarter. Finally, State Street Corp lifted its holdings in CMS Energy by 5.8% during the 4th quarter. State Street Corp now owns 15,589,843 shares of the utilities provider’s stock worth $979,666,000 after buying an additional 855,331 shares during the last quarter. Hedge funds and other institutional investors own 92.27% of the company’s stock.
A number of research firms have recently commented on CMS. JPMorgan Chase & Co. cut their target price on CMS Energy from $70.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Seaport Global Securities began coverage on CMS Energy in a research report on Wednesday, May 20th. They set a “buy” rating and a $61.50 target price on the stock. Barclays upgraded CMS Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $69.00 to $65.00 in a research report on Friday, May 15th. Credit Suisse Group cut their target price on CMS Energy from $67.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $62.00 target price on shares of CMS Energy in a research report on Thursday, April 30th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $63.83.
CMS stock traded down $1.89 during trading on Thursday, hitting $58.01. The company had a trading volume of 101,035 shares, compared to its average volume of 2,421,784. The firm has a market cap of $17.01 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 3.29 and a beta of 0.20. CMS Energy Co. has a 1-year low of $46.03 and a 1-year high of $69.17. The firm has a 50-day moving average price of $57.04 and a 200-day moving average price of $61.46. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 2.42.
CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Monday, April 27th. The utilities provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.07. CMS Energy had a return on equity of 14.68% and a net margin of 10.68%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. Sell-side analysts anticipate that CMS Energy Co. will post 2.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, May 14th. CMS Energy’s dividend payout ratio is presently 65.46%.
In other CMS Energy news, SVP Jean-Francois Brossoit sold 1,796 shares of CMS Energy stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $55.62, for a total value of $99,893.52. Following the sale, the senior vice president now owns 59,087 shares of the company’s stock, valued at approximately $3,286,418.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dhenuvakonda Rao Venkat sold 875 shares of CMS Energy stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $55.76, for a total value of $48,790.00. Following the completion of the sale, the senior vice president now directly owns 34,092 shares in the company, valued at approximately $1,900,969.92. The disclosure for this sale can be found here. Insiders sold a total of 13,711 shares of company stock worth $761,599 in the last ninety days. 0.50% of the stock is owned by corporate insiders.
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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