CMS Energy Co. Announces Quarterly Dividend of $0.38 (NYSE:CMS)
CMS Energy Co. (NYSE:CMS) announced a quarterly dividend on Thursday, July 18th, RTT News reports. Investors of record on Friday, August 2nd will be given a dividend of 0.3825 per share by the utilities provider on Friday, August 30th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 2.60%.
CMS Energy has increased its dividend by an average of 7.2% per year over the last three years and has increased its dividend every year for the last 7 years. CMS Energy has a payout ratio of 65.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CMS Energy to earn $2.66 per share next year, which means the company should continue to be able to cover its $1.53 annual dividend with an expected future payout ratio of 57.5%.
NYSE:CMS traded up $0.28 during mid-day trading on Thursday, reaching $58.95. The company’s stock had a trading volume of 621,728 shares, compared to its average volume of 1,707,709. The stock’s fifty day moving average price is $58.05. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.92 and a current ratio of 1.13. CMS Energy has a twelve month low of $46.25 and a twelve month high of $59.34. The company has a market cap of $16.65 billion, a PE ratio of 25.30, a P/E/G ratio of 3.67 and a beta of 0.17.
In other CMS Energy news, Director John G. Russell sold 16,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $55.35, for a total transaction of $929,880.00. Following the completion of the sale, the director now owns 299,196 shares in the company, valued at approximately $16,560,498.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Glenn P. Barba sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $54.95, for a total value of $467,075.00. Following the sale, the vice president now owns 28,555 shares of the company’s stock, valued at approximately $1,569,097.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,856 shares of company stock worth $2,157,452. Company insiders own 0.52% of the company’s stock.
A number of equities analysts have recently commented on the company. Credit Suisse Group set a $199.00 price objective on NextEra Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. KeyCorp assumed coverage on Southern in a report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Bank of America set a $7.00 price objective on Deutsche Bank and gave the stock a “sell” rating in a report on Thursday, April 11th. Barclays restated a “hold” rating and issued a $14.00 price objective on shares of MACOM Technology Solutions in a report on Thursday, June 20th. Finally, Zacks Investment Research upgraded Hudson Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. CMS Energy presently has a consensus rating of “Hold” and a consensus target price of $55.85.
CMS Energy Company Profile
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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