Bank of New York Mellon Corp Grows Holdings in CMS Energy Corporation (CMS)
Bank of New York Mellon Corp lifted its stake in shares of CMS Energy Corporation (NYSE:CMS) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,018,642 shares of the utilities provider’s stock after buying an additional 596,628 shares during the quarter. Bank of New York Mellon Corp owned approximately 4.97% of CMS Energy Corporation worth $649,344,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its position in shares of CMS Energy Corporation by 1.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 296,923 shares of the utilities provider’s stock worth $14,327,000 after buying an additional 3,040 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of CMS Energy Corporation during the third quarter worth about $6,269,000. Toronto Dominion Bank grew its position in shares of CMS Energy Corporation by 18.4% during the third quarter. Toronto Dominion Bank now owns 106,908 shares of the utilities provider’s stock worth $4,951,000 after buying an additional 16,607 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of CMS Energy Corporation by 1.5% during the third quarter. New York State Common Retirement Fund now owns 592,900 shares of the utilities provider’s stock worth $27,463,000 after buying an additional 9,000 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of CMS Energy Corporation by 7.9% during the third quarter. Sei Investments Co. now owns 225,608 shares of the utilities provider’s stock worth $10,450,000 after buying an additional 16,563 shares in the last quarter. 87.65% of the stock is owned by institutional investors and hedge funds.
In other CMS Energy Corporation news, insider Garrick J. Rochow sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $47.81, for a total value of $95,620.00. Following the completion of the sale, the insider now owns 64,307 shares in the company, valued at $3,074,517.67. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $48.02, for a total value of $48,020.00. Following the completion of the sale, the insider now owns 28,176 shares of the company’s stock, valued at approximately $1,353,011.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,500 shares of company stock valued at $312,550. 0.65% of the stock is owned by company insiders.
A number of equities analysts have recently commented on CMS shares. BMO Capital Markets reissued a “buy” rating and set a $48.00 price objective on shares of CMS Energy Corporation in a research report on Monday, July 31st. KeyCorp reissued a “buy” rating and set a $51.00 price objective on shares of CMS Energy Corporation in a research report on Friday, September 1st. BidaskClub raised CMS Energy Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Bank of America Corporation started coverage on CMS Energy Corporation in a research report on Tuesday, October 24th. They set a “buy” rating and a $52.00 price objective for the company. Finally, Morgan Stanley started coverage on CMS Energy Corporation in a research report on Monday, July 31st. They set an “equal weight” rating and a $47.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.90.
CMS Energy Corporation (NYSE:CMS) traded up $0.36 during mid-day trading on Tuesday, reaching $49.63. The company had a trading volume of 1,875,800 shares, compared to its average volume of 1,833,967. The stock has a market capitalization of $13,894.77, a PE ratio of 25.27, a price-to-earnings-growth ratio of 3.51 and a beta of 0.18. CMS Energy Corporation has a 12-month low of $38.92 and a 12-month high of $49.85. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.59 and a current ratio of 0.94.
CMS Energy Corporation (NYSE:CMS) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.60 billion. CMS Energy Corporation had a return on equity of 12.30% and a net margin of 8.38%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. research analysts predict that CMS Energy Corporation will post 2.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 3rd will be paid a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, November 2nd. CMS Energy Corporation’s payout ratio is 68.91%.
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CMS Energy Corporation Company Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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