Financial Counselors Inc. lifted its stake in CMS Energy Corporation (NYSE:CMS) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,648 shares of the utilities provider’s stock after buying an additional 215 shares during the period. Financial Counselors Inc.’s holdings in CMS Energy Corporation were worth $2,620,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of CMS Energy Corporation by 18.0% in the 1st quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock valued at $108,000 after buying an additional 370 shares during the last quarter. Brookfield Asset Management Inc. purchased a new position in shares of CMS Energy Corporation in the 1st quarter valued at $159,000. Meeder Asset Management Inc. purchased a new position in shares of CMS Energy Corporation in the 2nd quarter valued at $185,000. Laurion Capital Management LP purchased a new position in shares of CMS Energy Corporation in the 1st quarter valued at $201,000. Finally, Trust Co. of Toledo NA OH purchased a new position in shares of CMS Energy Corporation in the 2nd quarter valued at $205,000. 87.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CMS Energy Corporation (CMS) traded up 0.08% during mid-day trading on Monday, hitting $48.70. 99,835 shares of the stock traded hands. CMS Energy Corporation has a 12-month low of $38.78 and a 12-month high of $48.91. The firm’s 50 day moving average price is $47.64 and its 200-day moving average price is $46.19. The stock has a market cap of $13.71 billion, a P/E ratio of 24.60 and a beta of 0.17.
CMS Energy Corporation (NYSE:CMS) last released its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate 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 return on equity of 12.98% and a net margin of 8.52%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. Analysts predict that CMS Energy Corporation will post $2.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Friday, August 4th were given a dividend of $0.3325 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.33 annualized dividend and a dividend yield of 2.73%. CMS Energy Corporation’s dividend payout ratio is currently 66.83%.
In other news, Director Jon E. Barfield sold 6,336 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total transaction of $296,588.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian F. Rich sold 3,500 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $48.26, for a total transaction of $168,910.00. Following the transaction, the senior vice president now owns 44,835 shares of the company’s stock, valued at approximately $2,163,737.10. The disclosure for this sale can be found here. Insiders have sold 11,836 shares of company stock valued at $561,118 in the last 90 days. Insiders own 0.65% of the company’s stock.
CMS has been the topic of a number of recent analyst reports. BidaskClub raised shares of CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Credit Suisse Group raised shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the company from $46.00 to $50.00 in a research report on Monday, July 24th. BMO Capital Markets reaffirmed a “buy” rating and issued a $48.00 target price on shares of CMS Energy Corporation in a research report on Monday, July 31st. Morgan Stanley initiated 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 price objective on the stock. Finally, KeyCorp reissued a “buy” rating and set a $51.00 price objective on shares of CMS Energy Corporation in a research report on Friday, September 1st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target 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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