Public Employees Retirement System of Ohio reduced its position in CMS Energy Co. (NYSE:CMS) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 114,035 shares of the utilities provider’s stock after selling 3,474 shares during the period. Public Employees Retirement System of Ohio’s holdings in CMS Energy were worth $6,662,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CMS. Brookfield Asset Management Inc. bought a new position in shares of CMS Energy in the 2nd quarter worth $109,550,000. Capital International Investors boosted its position in shares of CMS Energy by 42.8% in the 1st quarter. Capital International Investors now owns 5,197,474 shares of the utilities provider’s stock worth $305,358,000 after purchasing an additional 1,557,033 shares during the last quarter. Capital Research Global Investors boosted its position in shares of CMS Energy by 54.1% in the 1st quarter. Capital Research Global Investors now owns 3,088,367 shares of the utilities provider’s stock worth $181,442,000 after purchasing an additional 1,084,400 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of CMS Energy by 43,250.5% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 802,852 shares of the utilities provider’s stock worth $47,168,000 after purchasing an additional 801,000 shares during the last quarter. Finally, State Street Corp boosted its position in shares of CMS Energy by 4.3% in the 1st quarter. State Street Corp now owns 16,263,394 shares of the utilities provider’s stock worth $955,474,000 after purchasing an additional 673,551 shares during the last quarter. Institutional investors and hedge funds own 92.07% of the company’s stock.
Several research firms have recently issued reports on CMS. Zacks Investment Research upgraded CMS Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Friday, July 24th. Citigroup lifted their target price on CMS Energy from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Credit Suisse Group reduced their target price on CMS Energy from $59.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. JPMorgan Chase & Co. reduced their target price on CMS Energy from $70.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Finally, BMO Capital Markets started coverage on CMS Energy in a report on Thursday, July 9th. They set an “outperform” rating and a $63.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CMS Energy presently has a consensus rating of “Buy” and an average target price of $63.27.
NYSE:CMS opened at $61.49 on Wednesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.97 and a current ratio of 1.13. The stock’s 50-day simple moving average is $61.55 and its 200 day simple moving average is $59.63. The company has a market cap of $17.49 billion, a P/E ratio of 23.06, a P/E/G ratio of 3.31 and a beta of 0.14. CMS Energy Co. has a 52-week low of $46.03 and a 52-week high of $69.17.
CMS Energy (NYSE:CMS) last released its earnings results on Monday, August 3rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.52 billion. CMS Energy had a return on equity of 15.32% and a net margin of 11.33%. CMS Energy’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, equities analysts predict that CMS Energy Co. will post 2.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 7th were given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Thursday, August 6th. CMS Energy’s dividend payout ratio (DPR) is presently 65.46%.
In other CMS Energy news, SVP Jean-Francois Brossoit sold 780 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $63.00, for a total transaction of $49,140.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Catherine A. Hendrian sold 1,584 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $62.78, for a total value of $99,443.52. Following the transaction, the senior vice president now directly owns 41,218 shares in the company, valued at approximately $2,587,666.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,743 shares of company stock worth $538,927. Company insiders own 0.50% of the company’s stock.
CMS Energy Profile
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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