WEALTHFRONT Corp reduced its stake in shares of CMS Energy Co. (NYSE:CMS) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,095 shares of the utilities provider’s stock after selling 3,251 shares during the quarter. WEALTHFRONT Corp’s holdings in CMS Energy were worth $2,014,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CMS. Manning & Napier Group LLC grew its position in shares of CMS Energy by 3.8% in the 3rd quarter. Manning & Napier Group LLC now owns 28,266 shares of the utilities provider’s stock worth $1,384,000 after buying an additional 1,045 shares during the period. Cognios Capital LLC grew its position in shares of CMS Energy by 2.1% in the 2nd quarter. Cognios Capital LLC now owns 57,394 shares of the utilities provider’s stock worth $2,712,000 after buying an additional 1,198 shares during the period. CIBC Asset Management Inc grew its position in shares of CMS Energy by 4.3% in the 2nd quarter. CIBC Asset Management Inc now owns 30,807 shares of the utilities provider’s stock worth $1,457,000 after buying an additional 1,270 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of CMS Energy by 0.4% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 445,179 shares of the utilities provider’s stock worth $21,814,000 after buying an additional 1,694 shares during the period. Finally, Commonwealth Bank of Australia grew its position in shares of CMS Energy by 7.8% in the 3rd quarter. Commonwealth Bank of Australia now owns 28,252 shares of the utilities provider’s stock worth $1,379,000 after buying an additional 2,052 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of CMS Energy stock opened at $52.52 on Thursday. The stock has a market capitalization of $14.89 billion, a P/E ratio of 24.13, a PEG ratio of 3.63 and a beta of 0.03. CMS Energy Co. has a 1 year low of $40.48 and a 1 year high of $53.35. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.87.
CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.53 billion. CMS Energy had a net margin of 8.00% and a return on equity of 14.88%. During the same quarter in the previous year, the business posted $0.62 EPS. As a group, analysts expect that CMS Energy Co. will post 2.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 2nd were paid a $0.3575 dividend. This represents a $1.43 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, November 1st. CMS Energy’s payout ratio is 65.90%.
A number of research firms have recently weighed in on CMS. ValuEngine raised shares of CMS Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Barclays upped their target price on shares of CMS Energy from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, November 19th. Morgan Stanley upped their target price on shares of CMS Energy from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Wells Fargo & Co upped their target price on shares of CMS Energy from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. Finally, Argus upgraded shares of CMS Energy from a “hold” rating to a “buy” rating in a research note on Monday, September 10th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.50.
In other CMS Energy news, SVP Brian F. Rich sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $49.69, for a total transaction of $198,760.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brandon J. Hofmeister sold 500 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $51.88, for a total transaction of $25,940.00. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
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CMS Energy 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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