Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of CMS Energy Co. (NYSE:CMS) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 29,575 shares of the utilities provider’s stock, valued at approximately $1,398,000.
Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation bought a new stake in CMS Energy during the first quarter worth about $119,000. Advisors Preferred LLC bought a new stake in CMS Energy during the first quarter worth about $139,000. Dupont Capital Management Corp bought a new stake in CMS Energy during the first quarter worth about $144,000. Piedmont Investment Advisors LLC bought a new stake in CMS Energy during the second quarter worth about $156,000. Finally, IFP Advisors Inc lifted its stake in CMS Energy by 49.7% during the first quarter. IFP Advisors Inc now owns 4,217 shares of the utilities provider’s stock worth $191,000 after purchasing an additional 1,400 shares during the last quarter. 90.06% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on CMS. ValuEngine raised CMS Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Barclays began coverage on CMS Energy in a research note on Wednesday, August 15th. They set an “equal weight” rating and a $51.00 price target for the company. Zacks Investment Research raised CMS Energy from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Thursday, June 14th. Citigroup lifted their price target on CMS Energy from $46.00 to $49.00 and gave the stock a “hold” rating in a research note on Monday, July 9th. Finally, Howard Weil reaffirmed a “sector outperform” rating on shares of CMS Energy in a research note on Tuesday, July 24th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $48.82.
CMS opened at $49.89 on Monday. The stock has a market capitalization of $13.70 billion, a PE ratio of 22.99, a P/E/G ratio of 3.35 and a beta of 0.06. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 1.99. CMS Energy Co. has a 12 month low of $40.48 and a 12 month high of $50.85.
CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, July 26th. The utilities provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.38 billion. CMS Energy had a return on equity of 15.14% and a net margin of 8.13%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. analysts predict that CMS Energy Co. will post 2.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Friday, August 3rd will be issued a $0.3575 dividend. The ex-dividend date of this dividend is Thursday, August 2nd. This represents a $1.43 annualized dividend and a dividend yield of 2.87%. CMS Energy’s dividend payout ratio is currently 65.90%.
In other news, Director Jon E. Barfield sold 2,861 shares of CMS Energy stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $48.45, for a total value of $138,615.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of CMS Energy stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $48.77, for a total value of $48,770.00. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
CMS Energy 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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