CMS Energy Corporation (CMS) Reaches New 12-Month High at $48.41
CMS Energy Corporation (NYSE:CMS) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $48.41 and last traded at $48.39, with a volume of 884,234 shares. The stock had previously closed at $47.84.
Several research analysts have issued reports on the stock. BMO Capital Markets restated a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a research report on Tuesday, May 2nd. Credit Suisse Group upgraded shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $46.00 to $50.00 in a research report on Monday, July 24th. Morgan Stanley set a $49.00 price target on shares of CMS Energy Corporation and gave the stock a “hold” rating in a research report on Thursday, August 10th. BidaskClub upgraded shares of CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Finally, Barclays PLC restated an “equal weight” rating and issued a $49.00 price target (up previously from $44.00) on shares of CMS Energy Corporation in a research report on Sunday, April 23rd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $47.75.
The stock has a market capitalization of $13.64 billion, a PE ratio of 24.467 and a beta of 0.16. The company has a 50-day moving average price of $46.57 and a 200-day moving average price of $45.58.
CMS Energy Corporation (NYSE:CMS) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.08. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that CMS Energy Corporation will post $2.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 4th will be paid a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 2.78%. The ex-dividend date is Wednesday, August 2nd. CMS Energy Corporation’s payout ratio is presently 66.83%.
In other CMS Energy Corporation news, Vice Chairman Thomas J. Webb sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $47.23, for a total value of $2,361,500.00. Following the completion of the sale, the insider now owns 187,773 shares of the company’s stock, valued at $8,868,518.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon E. Barfield sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total transaction of $296,588.16. The disclosure for this sale can be found here. Insiders sold 66,336 shares of company stock valued at $3,132,288 in the last ninety days. Insiders own 0.65% of the company’s stock.
A number of large investors have recently modified their holdings of CMS. Van ECK Associates Corp increased its stake in shares of CMS Energy Corporation by 18.0% in the first quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock valued at $108,000 after buying an additional 370 shares during the last quarter. Brookfield Asset Management Inc. purchased a new stake in shares of CMS Energy Corporation during the first quarter valued at approximately $159,000. Meeder Asset Management Inc. purchased a new stake in shares of CMS Energy Corporation during the second quarter valued at approximately $185,000. Parametrica Management Ltd purchased a new stake in shares of CMS Energy Corporation during the first quarter valued at approximately $200,000. Finally, Laurion Capital Management LP purchased a new stake in shares of CMS Energy Corporation during the first quarter valued at approximately $201,000. 85.93% of the stock is owned by hedge funds and other institutional investors.
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About CMS Energy Corporation
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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