Avalon Advisors LLC reduced its position in shares of CMS Energy Co. (NYSE:CMS) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 358,378 shares of the utilities provider’s stock after selling 3,292 shares during the period. Avalon Advisors LLC owned approximately 0.13% of CMS Energy worth $16,231,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in CMS Energy by 5.4% during the first quarter. BlackRock Inc. now owns 29,023,347 shares of the utilities provider’s stock worth $1,314,466,000 after purchasing an additional 1,489,311 shares in the last quarter. Franklin Resources Inc. raised its holdings in CMS Energy by 2.2% during the first quarter. Franklin Resources Inc. now owns 5,304,544 shares of the utilities provider’s stock worth $240,241,000 after purchasing an additional 114,480 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in CMS Energy by 6.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,367,811 shares of the utilities provider’s stock worth $197,818,000 after purchasing an additional 279,668 shares in the last quarter. Eaton Vance Management raised its holdings in CMS Energy by 72.8% during the first quarter. Eaton Vance Management now owns 3,516,719 shares of the utilities provider’s stock worth $159,272,000 after purchasing an additional 1,481,117 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in CMS Energy by 69.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,234,500 shares of the utilities provider’s stock worth $152,992,000 after purchasing an additional 1,329,800 shares in the last quarter. 88.35% of the stock is owned by hedge funds and other institutional investors.
CMS Energy stock traded up $0.20 during mid-day trading on Tuesday, reaching $46.71. The company had a trading volume of 347,593 shares, compared to its average volume of 2,570,157. CMS Energy Co. has a 1 year low of $40.48 and a 1 year high of $50.85. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 1.96. The stock has a market cap of $12.84 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 3.07 and a beta of 0.08.
CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, April 26th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. CMS Energy had a net margin of 7.48% and a return on equity of 14.33%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. sell-side analysts forecast that CMS Energy Co. will post 2.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Friday, May 4th were paid a dividend of $0.3575 per share. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $1.43 dividend on an annualized basis and a dividend yield of 3.06%. CMS Energy’s dividend payout ratio (DPR) is 65.90%.
In other news, VP Glenn P. Barba sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the completion of the transaction, the vice president now directly owns 32,161 shares of the company’s stock, valued at approximately $1,506,742.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $46.62, for a total transaction of $46,620.00. Following the transaction, the insider now directly owns 31,753 shares of the company’s stock, valued at $1,480,324.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,611 shares of company stock valued at $817,617. Corporate insiders own 0.57% of the company’s stock.
Several research analysts recently issued reports on the stock. ValuEngine raised shares of CMS Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised shares of CMS Energy from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Thursday, June 14th. Morgan Stanley dropped their target price on shares of CMS Energy from $47.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, June 13th. Finally, KeyCorp increased their target price on shares of CMS Energy from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, May 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. CMS Energy presently has an average rating of “Buy” and a consensus price target of $47.75.
About CMS Energy
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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