Magellan Asset Management Ltd lifted its holdings in CMS Energy Corporation (NYSE:CMS) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,371 shares of the utilities provider’s stock after buying an additional 13,823 shares during the quarter. Magellan Asset Management Ltd owned 0.07% of CMS Energy Corporation worth $8,666,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Thrivent Financial For Lutherans boosted its stake in shares of CMS Energy Corporation by 4,172.2% in the second quarter. Thrivent Financial For Lutherans now owns 462,679 shares of the utilities provider’s stock valued at $21,399,000 after buying an additional 451,849 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of CMS Energy Corporation by 31.9% in the second quarter. Profund Advisors LLC now owns 29,410 shares of the utilities provider’s stock valued at $1,360,000 after buying an additional 7,110 shares in the last quarter. Laurion Capital Management LP boosted its stake in shares of CMS Energy Corporation by 1,215.6% in the second quarter. Laurion Capital Management LP now owns 59,200 shares of the utilities provider’s stock valued at $2,738,000 after buying an additional 54,700 shares in the last quarter. BT Investment Management Ltd purchased a new stake in shares of CMS Energy Corporation in the second quarter valued at approximately $1,009,000. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of CMS Energy Corporation in the second quarter valued at approximately $217,000. Hedge funds and other institutional investors own 87.45% of the company’s stock.
Shares of CMS Energy Corporation (NYSE CMS) traded down 0.04% during trading on Friday, reaching $47.87. The company had a trading volume of 3,244,228 shares. The stock’s 50-day moving average price is $47.86 and its 200-day moving average price is $46.33. CMS Energy Corporation has a 12 month low of $38.78 and a 12 month high of $49.11. The stock has a market capitalization of $13.48 billion, a PE ratio of 24.18 and a beta of 0.17.
CMS Energy Corporation (NYSE:CMS) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The firm had revenue of $1.45 billion for 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 revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. Equities analysts forecast that CMS Energy Corporation will post $2.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 4th were paid a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Wednesday, August 2nd. CMS Energy Corporation’s payout ratio is currently 66.83%.
In other CMS Energy Corporation news, Director Jon E. Barfield sold 6,336 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $46.81, for a total transaction of $296,588.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian F. Rich sold 3,500 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $48.26, for a total value of $168,910.00. Following the transaction, the senior vice president now directly owns 44,835 shares of the company’s stock, valued at $2,163,737.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,836 shares of company stock valued at $561,118. 0.65% of the stock is currently owned by corporate insiders.
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CMS has been the topic of a number of analyst reports. BidaskClub upgraded CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Credit Suisse Group upgraded CMS Energy Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $46.00 to $50.00 in a research note on Monday, July 24th. BMO Capital Markets restated a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a research note on Monday, July 31st. Morgan Stanley initiated coverage on CMS Energy Corporation in a research note on Monday, July 31st. They issued an “equal weight” rating and a $47.00 price target on the stock. Finally, KeyCorp restated a “buy” rating and issued a $51.00 price target on shares of CMS Energy Corporation in a research note on Friday, September 1st. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. CMS Energy Corporation has an average rating of “Buy” and a consensus target price of $48.20.
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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