Harwood Advisory Group LLC cut its stake in CMS Energy Corporation (NYSE:CMS) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,215 shares of the utilities provider’s stock after selling 2,355 shares during the period. Harwood Advisory Group LLC’s holdings in CMS Energy Corporation were worth $1,721,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in CMS Energy Corporation by 18.0% in the first 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 period. Quadrant Capital Group LLC raised its position in shares of CMS Energy Corporation by 5.7% in the first quarter. Quadrant Capital Group LLC now owns 2,701 shares of the utilities provider’s stock worth $118,000 after buying an additional 145 shares during the period. Brookfield Asset Management Inc. acquired a new position in shares of CMS Energy Corporation during the first quarter worth approximately $159,000. Meeder Asset Management Inc. acquired a new position in shares of CMS Energy Corporation during the second quarter worth approximately $185,000. Finally, Parametrica Management Ltd acquired a new position in shares of CMS Energy Corporation during the first quarter worth approximately $200,000. Hedge funds and other institutional investors own 86.49% of the company’s stock.
Shares of CMS Energy Corporation (NYSE:CMS) traded down 0.36% during mid-day trading on Friday, reaching $47.31. The company’s stock had a trading volume of 1,194,255 shares. The firm has a 50 day moving average price of $46.50 and a 200 day moving average price of $45.41. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 23.89 and a beta of 0.16. CMS Energy Corporation has a 52-week low of $38.78 and a 52-week high of $48.37.
CMS Energy Corporation (NYSE:CMS) last released its earnings results on Friday, July 28th. The utilities provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.08. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.36 billion. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. On average, equities analysts predict that CMS Energy Corporation will post $2.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 4th will be paid a $0.3325 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.33 dividend on an annualized basis and a yield of 2.81%. CMS Energy Corporation’s dividend payout ratio is presently 66.83%.
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A number of research analysts have recently commented on CMS shares. BMO Capital Markets reiterated a “buy” rating and set a $48.00 price target on shares of CMS Energy Corporation in a report on Monday, July 31st. BidaskClub lowered CMS Energy Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Barclays PLC reiterated an “equal weight” rating and set a $49.00 price target (up from $44.00) on shares of CMS Energy Corporation in a report on Sunday, April 23rd. Morgan Stanley began coverage on CMS Energy Corporation in a report on Monday, July 31st. They set an “equal weight” rating and a $47.00 price target for the company. Finally, Credit Suisse Group upgraded CMS Energy Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $46.00 to $50.00 in a research report on Monday, July 24th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $47.75.
In other news, Director Jon E. Barfield sold 6,336 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $46.81, for a total transaction of $296,588.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Thomas J. Webb sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $47.23, for a total value of $2,361,500.00. Following the transaction, the insider now directly owns 187,773 shares in the company, valued at $8,868,518.79. The disclosure for this sale can be found here. Insiders have sold 68,336 shares of company stock worth $3,223,288 over the last ninety days. Insiders own 0.65% of the company’s stock.
About CMS Energy Corporation
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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