CMS Energy Corporation (CMS) Releases Earnings Results, Misses Expectations By $0.08 EPS
CMS Energy Corporation (NYSE:CMS) posted its earnings results on Friday. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by $0.08, Bloomberg Earnings reports. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.36 billion. CMS Energy Corporation had a return on equity of 13.94% and a net margin of 9.12%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. CMS Energy Corporation updated its FY17 guidance to $2.14-2.18 EPS.
Shares of CMS Energy Corporation (NYSE:CMS) traded down 1.26% during mid-day trading on Friday, reaching $46.30. 3,414,181 shares of the company’s stock traded hands. CMS Energy Corporation has a 12-month low of $38.78 and a 12-month high of $48.37. The company has a market cap of $12.91 billion, a P/E ratio of 23.37 and a beta of 0.16. The firm has a 50-day moving average of $46.68 and a 200 day moving average of $45.07.
The firm also recently disclosed 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 2.87%. The ex-dividend date of this dividend is Wednesday, August 2nd. CMS Energy Corporation’s dividend payout ratio (DPR) is 66.83%.
In other CMS Energy Corporation news, Vice Chairman Thomas J. Webb sold 50,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $47.23, for a total transaction of $2,361,500.00. Following the completion of the transaction, the insider now owns 187,773 shares in the company, valued at $8,868,518.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Glenn P. Barba sold 16,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $45.12, for a total transaction of $721,920.00. Following the transaction, the vice president now owns 33,913 shares of the company’s stock, valued at approximately $1,530,154.56. The disclosure for this sale can be found here. Insiders have sold 88,246 shares of company stock valued at $4,114,711 in the last quarter. Company insiders own 0.65% of the company’s stock.
A number of institutional investors have recently modified their holdings of CMS. Blue Chip Partners Inc. boosted its stake in CMS Energy Corporation by 0.7% in the first quarter. Blue Chip Partners Inc. now owns 4,610 shares of the utilities provider’s stock worth $206,000 after buying an additional 34 shares in the last quarter. Clarius Group LLC boosted its stake in CMS Energy Corporation by 0.7% in the first quarter. Clarius Group LLC now owns 5,286 shares of the utilities provider’s stock worth $237,000 after buying an additional 36 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in CMS Energy Corporation by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 16,924 shares of the utilities provider’s stock worth $783,000 after buying an additional 62 shares in the last quarter. Cleararc Capital Inc. boosted its stake in CMS Energy Corporation by 1.2% in the first quarter. Cleararc Capital Inc. now owns 6,847 shares of the utilities provider’s stock worth $306,000 after buying an additional 81 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in CMS Energy Corporation by 0.5% in the first quarter. Greenleaf Trust now owns 17,871 shares of the utilities provider’s stock worth $800,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.
CMS has been the subject of a number of research reports. BidaskClub upgraded shares of CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Barclays PLC restated an “equal weight” rating and set a $49.00 target price (up previously from $44.00) on shares of CMS Energy Corporation in a research note on Sunday, April 23rd. Deutsche Bank AG raised their target price on shares of CMS Energy Corporation from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. BMO Capital Markets restated a “buy” rating and set a $48.00 target price on shares of CMS Energy Corporation in a research note on Tuesday, May 2nd. Finally, Credit Suisse Group upgraded shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $46.00 to $50.00 in a research note on Monday, July 24th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. CMS Energy Corporation has an average rating of “Buy” and a consensus price target of $47.57.
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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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