Nationwide Fund Advisors Lowers Position in CMS Energy Corp. (CMS)
Nationwide Fund Advisors reduced its stake in shares of CMS Energy Corp. (NYSE:CMS) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 191,398 shares of the company’s stock after selling 11,684 shares during the period. Nationwide Fund Advisors owned 0.07% of CMS Energy Corp. worth $8,778,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Exchange Capital Management Inc. acquired a new position in CMS Energy Corp. during the second quarter valued at approximately $109,000. Clarius Group LLC acquired a new position in CMS Energy Corp. during the first quarter valued at approximately $201,000. Global X Management Co. LLC raised its position in CMS Energy Corp. by 78.5% in the second quarter. Global X Management Co. LLC now owns 4,497 shares of the company’s stock valued at $206,000 after buying an additional 1,978 shares during the period. Princeton Alpha Management LP acquired a new position in CMS Energy Corp. during the second quarter valued at approximately $207,000. Finally, Advisor Partners LLC acquired a new position in CMS Energy Corp. during the first quarter valued at approximately $209,000. 89.22% of the stock is owned by institutional investors and hedge funds.
CMS Energy Corp. (NYSE:CMS) traded down 0.16% on Tuesday, reaching $42.74. 854,723 shares of the company’s stock were exchanged. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 21.91 and a beta of 0.12. CMS Energy Corp. has a 12 month low of $33.33 and a 12 month high of $46.25. The firm has a 50-day moving average of $42.91 and a 200-day moving average of $42.61.
CMS Energy Corp. (NYSE:CMS) last released its earnings results on Thursday, July 28th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09. The firm earned $1.37 billion during the quarter, compared to analysts’ expectations of $1.49 billion. CMS Energy Corp. had a net margin of 8.79% and a return on equity of 13.34%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. On average, equities analysts expect that CMS Energy Corp. will post $2.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Friday, August 5th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.90%. The ex-dividend date was Wednesday, August 3rd. CMS Energy Corp.’s payout ratio is currently 63.59%.
Several research analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of CMS Energy Corp. in a report on Friday, July 29th. SunTrust Banks Inc. decreased their price target on shares of CMS Energy Corp. from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, September 12th. Howard Weil assumed coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They issued a “sector perform” rating and a $46.00 price target for the company. Zacks Investment Research lowered shares of CMS Energy Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, KeyCorp reissued an “outperform” rating and set a $47.00 target price (up from $45.00) on shares of CMS Energy Corp. in a research note on Saturday, July 2nd. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.65.
In related news, SVP Catherine M. Reynolds sold 11,032 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $43.59, for a total transaction of $480,884.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jon E. Barfield sold 9,568 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $42.97, for a total transaction of $411,136.96. Following the transaction, the director now owns 23,256 shares of the company’s stock, valued at $999,310.32. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.
About CMS Energy Corp.
CMS Energy Corporation (CMS Energy) is an energy company operating primarily in Michigan. The Company operates in three segments, which include Consumers Electric Utility, Consumers Gas Utility and Enterprises (non-utility operations and investments). CMS Energy, through its subsidiaries and equity investments, is engaged primarily in independent power production and owns power generation facilities fueled by natural gas and biomass.
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