Ontario Teachers Pension Plan Board lowered its stake in CMS Energy Co. (NYSE:CMS) by 76.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,786 shares of the utilities provider’s stock after selling 54,807 shares during the period. Ontario Teachers Pension Plan Board’s holdings in CMS Energy were worth $986,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of CMS. Wealth Quarterback LLC bought a new position in shares of CMS Energy in the fourth quarter worth $12,589,610,000. Norges Bank bought a new position in shares of CMS Energy in the fourth quarter worth $118,033,000. Artisan Partners Limited Partnership bought a new position in shares of CMS Energy in the fourth quarter worth $54,522,000. Pictet Asset Management Ltd. increased its position in shares of CMS Energy by 18.3% in the fourth quarter. Pictet Asset Management Ltd. now owns 5,566,437 shares of the utilities provider’s stock worth $349,795,000 after purchasing an additional 860,791 shares during the period. Finally, State Street Corp increased its position in shares of CMS Energy by 5.8% in the fourth quarter. State Street Corp now owns 15,589,843 shares of the utilities provider’s stock worth $979,666,000 after purchasing an additional 855,331 shares during the period. Institutional investors own 90.31% of the company’s stock.
In related news, SVP Dhenuvakonda Rao Venkat sold 875 shares of CMS Energy stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $55.76, for a total value of $48,790.00. Following the transaction, the senior vice president now directly owns 34,092 shares of the company’s stock, valued at $1,900,969.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jean-Francois Brossoit sold 1,796 shares of CMS Energy stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $55.62, for a total value of $99,893.52. Following the completion of the transaction, the senior vice president now directly owns 59,087 shares in the company, valued at $3,286,418.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,040 shares of company stock worth $610,741. 0.50% of the stock is owned by insiders.
NYSE:CMS opened at $55.59 on Friday. The stock has a market cap of $15.67 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 3.02 and a beta of 0.20. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 2.42. The stock’s 50-day moving average is $57.81 and its 200-day moving average is $61.76. CMS Energy Co. has a 1-year low of $46.03 and a 1-year high of $69.17.
CMS Energy (NYSE:CMS) last released its quarterly earnings results on Monday, April 27th. The utilities provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.07 billion. CMS Energy had a return on equity of 14.68% and a net margin of 10.68%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, equities analysts forecast that CMS Energy Co. will post 2.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, May 14th. CMS Energy’s dividend payout ratio is currently 65.46%.
A number of research analysts have issued reports on the company. Mizuho assumed coverage on CMS Energy in a research report on Thursday, May 14th. They issued a “neutral” rating and a $55.00 target price on the stock. Credit Suisse Group decreased their target price on CMS Energy from $67.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Seaport Global Securities assumed coverage on CMS Energy in a research report on Wednesday. They issued a “buy” rating and a $61.50 target price on the stock. JPMorgan Chase & Co. decreased their target price on CMS Energy from $70.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, March 26th. Finally, Morgan Stanley decreased their target price on CMS Energy from $62.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.83.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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