Voya Investment Management LLC Lowers Stake in CMS Energy Co. (CMS)
Voya Investment Management LLC trimmed its position in shares of CMS Energy Co. (NYSE:CMS) by 8.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,187 shares of the utilities provider’s stock after selling 12,330 shares during the quarter. Voya Investment Management LLC’s holdings in CMS Energy were worth $6,202,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of CMS. Bank of New York Mellon Corp raised its position in CMS Energy by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,906,647 shares of the utilities provider’s stock valued at $704,787,000 after buying an additional 2,030,430 shares during the last quarter. Scout Investments Inc. raised its position in CMS Energy by 2,602.1% in the 2nd quarter. Scout Investments Inc. now owns 1,360,227 shares of the utilities provider’s stock valued at $64,312,000 after buying an additional 1,309,887 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in CMS Energy in the 2nd quarter valued at $47,873,000. Carillon Tower Advisers Inc. raised its position in CMS Energy by 2,838.0% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 874,775 shares of the utilities provider’s stock valued at $41,359,000 after buying an additional 845,000 shares during the last quarter. Finally, Standard Life Aberdeen plc raised its position in CMS Energy by 10.5% in the 2nd quarter. Standard Life Aberdeen plc now owns 7,376,627 shares of the utilities provider’s stock valued at $348,805,000 after buying an additional 698,313 shares during the last quarter. 89.58% of the stock is currently owned by institutional investors.
A number of research firms recently commented on CMS. ValuEngine raised CMS Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research raised CMS Energy from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, June 14th. Citigroup increased their price target on CMS Energy from $46.00 to $49.00 and gave the company a “hold” rating in a research report on Monday, July 9th. Morgan Stanley lowered their price target on CMS Energy from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Friday. Finally, Wells Fargo & Co increased their price target on CMS Energy from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $50.20.
CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, July 26th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.38 billion. CMS Energy had a return on equity of 15.14% and a net margin of 8.13%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. equities analysts forecast that CMS Energy Co. will post 2.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 3rd were paid a $0.3575 dividend. The ex-dividend date was Thursday, August 2nd. This represents a $1.43 dividend on an annualized basis and a yield of 2.92%. CMS Energy’s dividend payout ratio (DPR) is presently 65.90%.
In other CMS Energy news, Director Jon E. Barfield sold 2,861 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $48.45, for a total value of $138,615.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $48.77, for a total value of $48,770.00. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.
CMS Energy Company Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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