Creative Planning raised its stake in CMS Energy Corporation (NYSE:CMS) by 7.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,085 shares of the utilities provider’s stock after buying an additional 568 shares during the period. Creative Planning’s holdings in CMS Energy Corporation were worth $374,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMS. BlackRock Inc. raised its stake in shares of CMS Energy Corporation by 2,081.4% in the first quarter. BlackRock Inc. now owns 22,879,645 shares of the utilities provider’s stock valued at $1,023,636,000 after buying an additional 21,830,781 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CMS Energy Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 28,512,655 shares of the utilities provider’s stock valued at $1,275,656,000 after buying an additional 1,065,859 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of CMS Energy Corporation by 1,171.6% in the first quarter. Renaissance Technologies LLC now owns 878,700 shares of the utilities provider’s stock valued at $39,313,000 after buying an additional 809,600 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of CMS Energy Corporation by 1,561,904.2% in the first quarter. Canada Pension Plan Investment Board now owns 749,762 shares of the utilities provider’s stock valued at $33,544,000 after buying an additional 749,714 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of CMS Energy Corporation by 98.4% in the first quarter. Wells Fargo & Company MN now owns 1,006,560 shares of the utilities provider’s stock valued at $45,033,000 after buying an additional 499,284 shares in the last quarter. Institutional investors and hedge funds own 85.93% of the company’s stock.
CMS Energy Corporation (CMS) traded up 0.77% during trading on Friday, hitting $48.21. The stock had a trading volume of 3,358,407 shares. The stock has a 50-day moving average price of $46.63 and a 200-day moving average price of $45.62. The company has a market cap of $13.57 billion, a PE ratio of 24.35 and a beta of 0.16. CMS Energy Corporation has a 52 week low of $38.78 and a 52 week high of $48.50.
CMS Energy Corporation (NYSE:CMS) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by $0.08. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.36 billion. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. Equities analysts predict that CMS Energy Corporation will post $2.17 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 4th will be issued a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, August 2nd. CMS Energy Corporation’s dividend payout ratio is currently 66.83%.
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Several analysts recently weighed in on CMS shares. BidaskClub raised CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Credit Suisse Group raised 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 report on Monday, July 24th. Barclays PLC reissued an “equal weight” rating and issued a $49.00 price objective (up from $44.00) on shares of CMS Energy Corporation in a report on Sunday, April 23rd. BMO Capital Markets reissued a “buy” rating and issued a $48.00 price objective on shares of CMS Energy Corporation in a report on Tuesday, May 2nd. Finally, Morgan Stanley started coverage on CMS Energy Corporation in a report on Monday, July 31st. They issued an “equal weight” rating and a $47.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.75.
In related news, Vice Chairman Thomas J. Webb sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 187,773 shares of the company’s stock, valued at $8,868,518.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Malone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $47.42, for a total transaction of $474,200.00. Following the completion of the sale, the insider now directly owns 148,622 shares of the company’s stock, valued at approximately $7,047,655.24. The disclosure for this sale can be found here. In the last three months, insiders sold 66,336 shares of company stock valued at $3,132,288. 0.65% of the stock is currently owned by company insiders.
CMS Energy Corporation Company Profile
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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