CMS Energy Corporation (CMS) Shares Sold by Friedberg Investment Management
Friedberg Investment Management decreased its holdings in CMS Energy Corporation (NYSE:CMS) by 66.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,260 shares of the utilities provider’s stock after selling 23,970 shares during the quarter. Friedberg Investment Management’s holdings in CMS Energy Corporation were worth $568,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in CMS Energy Corporation by 2.7% in the second quarter. Vanguard Group Inc. now owns 29,277,644 shares of the utilities provider’s stock worth $1,354,091,000 after acquiring an additional 764,989 shares in the last quarter. BlackRock Inc. raised its position in CMS Energy Corporation by 11.6% in the second quarter. BlackRock Inc. now owns 25,533,148 shares of the utilities provider’s stock worth $1,180,906,000 after acquiring an additional 2,653,503 shares in the last quarter. JPMorgan Chase & Co. raised its position in CMS Energy Corporation by 11.5% in the second quarter. JPMorgan Chase & Co. now owns 20,781,645 shares of the utilities provider’s stock worth $961,152,000 after acquiring an additional 2,145,055 shares in the last quarter. Bank of New York Mellon Corp raised its position in CMS Energy Corporation by 4.4% in the third quarter. Bank of New York Mellon Corp now owns 14,018,642 shares of the utilities provider’s stock worth $649,344,000 after acquiring an additional 596,628 shares in the last quarter. Finally, Eaton Vance Management raised its position in CMS Energy Corporation by 339.0% in the second quarter. Eaton Vance Management now owns 2,534,240 shares of the utilities provider’s stock worth $117,209,000 after acquiring an additional 1,957,005 shares in the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.
In related news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $48.02, for a total transaction of $48,020.00. Following the sale, the insider now owns 28,176 shares of the company’s stock, valued at $1,353,011.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by company insiders.
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Several research analysts have issued reports on CMS shares. Bank of America Corporation started coverage on CMS Energy Corporation in a research report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective for the company. KeyCorp reiterated a “buy” rating and issued a $51.00 price objective on shares of CMS Energy Corporation in a research report on Friday, September 1st. Morgan Stanley increased their price objective on CMS Energy Corporation from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Guggenheim started coverage on CMS Energy Corporation in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $48.00 price objective for the company. Finally, Zacks Investment Research cut CMS Energy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $48.90.
Shares of CMS Energy Corporation (NYSE CMS) traded up $0.07 during mid-day trading on Wednesday, hitting $49.48. The stock had a trading volume of 1,433,500 shares, compared to its average volume of 1,834,344. CMS Energy Corporation has a twelve month low of $39.42 and a twelve month high of $50.85. The stock has a market capitalization of $13,934.25, a PE ratio of 25.34, a P/E/G ratio of 3.52 and a beta of 0.18. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 1.99.
CMS Energy Corporation (NYSE:CMS) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. CMS Energy Corporation had a return on equity of 12.30% and a net margin of 8.38%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. analysts forecast that CMS Energy Corporation will post 2.17 EPS for the current year.
The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Thursday, November 2nd. CMS Energy Corporation’s payout ratio is currently 68.91%.
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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