Korea Investment CORP Purchases 35,524 Shares of CMS Energy Corporation (NYSE:CMS)
Korea Investment CORP boosted its position in CMS Energy Corporation (NYSE:CMS) by 3,307.6% during the second quarter, Holdings Channel reports. The fund owned 36,598 shares of the utilities provider’s stock after buying an additional 35,524 shares during the period. Korea Investment CORP’s holdings in CMS Energy Corporation were worth $1,693,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in CMS Energy Corporation by 10.3% in the fourth quarter. Macquarie Group Ltd. now owns 102,600 shares of the utilities provider’s stock worth $4,271,000 after buying an additional 9,600 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in CMS Energy Corporation by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 84,863 shares of the utilities provider’s stock worth $3,796,000 after buying an additional 720 shares during the last quarter. National Pension Service increased its stake in CMS Energy Corporation by 5.5% in the first quarter. National Pension Service now owns 255,143 shares of the utilities provider’s stock worth $11,387,000 after buying an additional 13,341 shares during the last quarter. Bank of Montreal Can increased its stake in CMS Energy Corporation by 15.7% in the first quarter. Bank of Montreal Can now owns 476,003 shares of the utilities provider’s stock worth $21,297,000 after buying an additional 64,494 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in CMS Energy Corporation by 5.3% in the first quarter. Capstone Asset Management Co. now owns 30,565 shares of the utilities provider’s stock worth $1,367,000 after buying an additional 1,550 shares during the last quarter. Institutional investors own 85.93% of the company’s stock.
CMS Energy Corporation (NYSE CMS) opened at 47.46 on Tuesday. The firm has a market capitalization of $13.36 billion, a PE ratio of 23.97 and a beta of 0.16. CMS Energy Corporation has a 52-week low of $38.78 and a 52-week high of $48.37. The stock’s 50 day moving average price is $46.50 and its 200 day moving average price is $45.50.
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 analysts’ consensus estimates of $0.41 by $0.08. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.36 billion. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, analysts predict that CMS Energy Corporation will post $2.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 4th will be paid a dividend of $0.3325 per share. The ex-dividend date is Wednesday, August 2nd. This represents a $1.33 dividend on an annualized basis and a yield of 2.80%. CMS Energy Corporation’s dividend payout ratio (DPR) is currently 66.83%.
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A number of equities research analysts have recently weighed in on CMS shares. 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 report on Sunday, April 23rd. BMO Capital Markets reiterated a “buy” rating and issued a $48.00 price objective on shares of CMS Energy Corporation in a report on Tuesday, May 2nd. BidaskClub upgraded CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Credit Suisse Group upgraded CMS Energy Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $46.00 to $50.00 in a report on Monday, July 24th. Finally, Morgan Stanley assumed coverage on CMS Energy Corporation in a report on Monday, July 31st. They issued an “equal weight” rating and a $47.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $47.75.
In other CMS Energy Corporation news, Director Jon E. Barfield sold 6,336 shares of CMS Energy Corporation stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Malone sold 10,000 shares of CMS Energy Corporation stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $47.42, for a total value of $474,200.00. Following the transaction, the insider now owns 148,622 shares of the company’s stock, valued at approximately $7,047,655.24. The disclosure for this sale can be found here. Insiders have sold a total of 66,336 shares of company stock valued at $3,132,288 in the last quarter. Company insiders own 0.65% of the company’s stock.
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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