Meadow Creek Investment Management LLC reduced its position in CMS Energy Co. (NYSE:CMS) by 55.5% in the second quarter, Holdings Channel reports. The fund owned 19,584 shares of the utilities provider’s stock after selling 24,412 shares during the period. Meadow Creek Investment Management LLC’s holdings in CMS Energy were worth $926,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMS. Bank of New York Mellon Corp raised its holdings in CMS Energy by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,906,647 shares of the utilities provider’s stock worth $704,787,000 after acquiring an additional 2,030,430 shares during the last quarter. BlackRock Inc. raised its holdings in CMS Energy by 5.4% in the 1st quarter. BlackRock Inc. now owns 29,023,347 shares of the utilities provider’s stock worth $1,314,466,000 after acquiring an additional 1,489,311 shares during the last quarter. Eaton Vance Management raised its holdings in CMS Energy by 72.8% in the 1st quarter. Eaton Vance Management now owns 3,516,719 shares of the utilities provider’s stock worth $159,272,000 after acquiring an additional 1,481,117 shares during the last quarter. Scout Investments Inc. raised its holdings in CMS Energy by 2,602.1% in the 2nd quarter. Scout Investments Inc. now owns 1,360,227 shares of the utilities provider’s stock worth $64,312,000 after acquiring an additional 1,309,887 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in CMS Energy in the 1st quarter worth approximately $56,726,000. Institutional investors own 89.62% of the company’s stock.
In other news, Director Jon E. Barfield sold 2,861 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $48.45, for a total transaction of $138,615.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $48.77, for a total transaction of $48,770.00. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
NYSE:CMS opened at $50.18 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.90 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. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 3.41 and a beta of 0.01.
CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, July 26th. The utilities provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. CMS Energy had a net margin of 8.13% and a return on equity of 15.14%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. sell-side analysts forecast that CMS Energy Co. will post 2.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 3rd were given a $0.3575 dividend. This represents a $1.43 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Thursday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is presently 65.90%.
CMS has been the subject of a number of recent analyst reports. KeyCorp restated a “buy” rating and issued a $51.00 price objective on shares of CMS Energy in a report on Thursday, August 16th. Morgan Stanley boosted their price objective on shares of CMS Energy from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Zacks Investment Research upgraded shares of CMS Energy from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, May 30th. ValuEngine lowered shares of CMS Energy from a “hold” rating to a “sell” rating in a report on Wednesday, June 6th. Finally, Barclays initiated coverage on shares of CMS Energy in a report on Wednesday, August 15th. They issued an “equal weight” rating and a $51.00 price objective for the company. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $49.27.
About CMS Energy
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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