CMS Energy Corporation (CMS) Shares Sold by Manning & Napier Advisors LLC
Manning & Napier Advisors LLC cut its stake in CMS Energy Corporation (NYSE:CMS) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,136 shares of the utilities provider’s stock after selling 2,495 shares during the period. Manning & Napier Advisors LLC’s holdings in CMS Energy Corporation were worth $1,256,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Shell Asset Management Co. lifted its position in shares of CMS Energy Corporation by 12.3% during the third quarter. Shell Asset Management Co. now owns 81,839 shares of the utilities provider’s stock worth $2,427,000 after purchasing an additional 8,976 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of CMS Energy Corporation by 8.9% in the third quarter. Canada Pension Plan Investment Board now owns 965,860 shares of the utilities provider’s stock worth $44,739,000 after buying an additional 79,200 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in shares of CMS Energy Corporation in the second quarter worth $2,909,000. Magellan Asset Management Ltd increased its stake in shares of CMS Energy Corporation by 8.0% in the second quarter. Magellan Asset Management Ltd now owns 187,371 shares of the utilities provider’s stock worth $8,666,000 after buying an additional 13,823 shares during the last quarter. Finally, Airain ltd increased its stake in shares of CMS Energy Corporation by 4.2% in the second quarter. Airain ltd now owns 126,524 shares of the utilities provider’s stock worth $5,852,000 after buying an additional 5,088 shares during the last quarter. 87.57% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on CMS. Bank of America Corporation began coverage on shares of CMS Energy Corporation in a research report on Tuesday, October 24th. They set a “buy” rating and a $52.00 price target for the company. KeyCorp reaffirmed a “buy” rating and issued a $51.00 price objective on shares of CMS Energy Corporation in a report on Friday, October 20th. BidaskClub raised shares of CMS Energy Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. BMO Capital Markets reissued a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a report on Monday, July 31st. Finally, Morgan Stanley upped their price target on shares of CMS Energy Corporation from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $48.90.
CMS Energy Corporation (NYSE:CMS) opened at $49.48 on Wednesday. The company has a market capitalization of $13,934.25, a price-to-earnings ratio of 25.34, a P/E/G ratio of 3.52 and a beta of 0.18. CMS Energy Corporation has a 12-month low of $39.42 and a 12-month high of $50.85. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.94 and a quick ratio of 0.59.
CMS Energy Corporation (NYSE:CMS) last announced its earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. analysts predict that CMS Energy Corporation will post 2.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 3rd will be paid a $0.3325 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.69%. CMS Energy Corporation’s dividend payout ratio (DPR) is presently 68.91%.
In related news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $48.02, for a total value of $48,020.00. Following the transaction, the insider now owns 28,176 shares in the company, valued at $1,353,011.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.
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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