CMS Energy Corporation (NYSE:CMS) Shares Sold by Strs Ohio
Strs Ohio lowered its position in CMS Energy Corporation (NYSE:CMS) by 7.2% during the second quarter, Holdings Channel reports. The firm owned 55,230 shares of the utilities provider’s stock after selling 4,305 shares during the period. Strs Ohio’s holdings in CMS Energy Corporation were worth $2,554,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its stake in 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 worth $108,000 after buying an additional 370 shares during the period. Quadrant Capital Group LLC increased its stake in CMS Energy Corporation by 5.7% in the first quarter. Quadrant Capital Group LLC now owns 2,701 shares of the utilities provider’s stock worth $118,000 after buying an additional 145 shares during the period. Brookfield Asset Management Inc. acquired a new stake in CMS Energy Corporation during the first quarter worth about $159,000. Meeder Asset Management Inc. acquired a new stake in CMS Energy Corporation during the second quarter worth about $185,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in CMS Energy Corporation during the second quarter worth about $205,000. 86.49% of the stock is owned by hedge funds and other institutional investors.
Shares of CMS Energy Corporation (NYSE CMS) opened at 47.38 on Thursday. CMS Energy Corporation has a 12 month low of $38.78 and a 12 month high of $48.37. The firm has a market cap of $13.34 billion, a P/E ratio of 23.93 and a beta of 0.16. The firm has a 50-day moving average of $46.51 and a 200 day moving average of $45.36.
CMS Energy Corporation (NYSE:CMS) last issued its quarterly 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. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.36 billion. CMS Energy Corporation had a return on equity of 12.98% and a net margin of 8.52%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, equities research analysts anticipate that CMS Energy Corporation will post $2.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 4th will be given a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Wednesday, August 2nd. CMS Energy Corporation’s dividend payout ratio is currently 66.83%.
A number of analysts recently issued reports on the stock. BMO Capital Markets reissued a “buy” rating and set a $48.00 target price on shares of CMS Energy Corporation in a research report on Monday, July 31st. Morgan Stanley assumed coverage on shares of CMS Energy Corporation in a research report on Monday, July 31st. They set an “equal weight” rating and a $47.00 target price for the company. BidaskClub downgraded shares of CMS Energy Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Credit Suisse Group raised shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $46.00 to $50.00 in a research report on Monday, July 24th. Finally, Barclays PLC reissued 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 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 company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $47.50.
In other news, Director Jon E. Barfield sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $46.81, for a total transaction of $296,588.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Thomas J. Webb sold 50,000 shares of the business’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 sale, the insider now owns 187,773 shares in the company, valued at $8,868,518.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,336 shares of company stock worth $3,223,288. 0.65% of the stock is currently owned by company insiders.
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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