First Trust Advisors LP lowered its stake in shares of CMS Energy Corporation (NYSE:CMS) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 851,140 shares of the utilities provider’s stock after selling 19,651 shares during the quarter. First Trust Advisors LP owned approximately 0.30% of CMS Energy Corporation worth $39,425,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Archford Capital Strategies LLC boosted its stake in shares of CMS Energy Corporation by 62.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 438 shares during the last quarter. IHT Wealth Management LLC bought a new position in shares of CMS Energy Corporation in the 2nd quarter valued at about $310,000. Meeder Asset Management Inc. bought a new position in shares of CMS Energy Corporation in the 2nd quarter valued at about $185,000. Trust Co. of Toledo NA OH bought a new position in shares of CMS Energy Corporation in the 2nd quarter valued at about $205,000. Finally, Colony Group LLC bought a new position in shares of CMS Energy Corporation in the 2nd quarter valued at about $217,000. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
CMS Energy Corporation (NYSE:CMS) opened at 48.20 on Monday. The company’s 50-day moving average is $47.38 and its 200 day moving average is $46.88. The company has a market cap of $13.57 billion, a price-to-earnings ratio of 24.34 and a beta of 0.16. CMS Energy Corporation has a 1-year low of $38.78 and a 1-year high of $49.11.
CMS Energy Corporation (NYSE:CMS) last announced its earnings results on Thursday, October 26th. The utilities provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. CMS Energy Corporation had a return on equity of 12.30% and a net margin of 8.38%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts predict that CMS Energy Corporation will post $2.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 3rd will be issued a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 2nd. CMS Energy Corporation’s payout ratio is presently 68.91%.
Several research analysts have recently issued reports on CMS shares. Morgan Stanley raised their target price on shares of CMS Energy Corporation from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. KeyCorp reaffirmed a “buy” rating and issued a $51.00 target price on shares of CMS Energy Corporation in a research note on Friday, September 1st. Zacks Investment Research lowered shares of CMS Energy Corporation from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $46.00 target price on shares of CMS Energy Corporation in a research note on Monday, September 11th. Finally, Guggenheim started coverage on shares of CMS Energy Corporation in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $48.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. CMS Energy Corporation presently has a consensus rating of “Buy” and an average target price of $48.90.
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In related news, insider Garrick J. Rochow sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $47.81, for a total value of $95,620.00. Following the sale, the insider now directly owns 64,307 shares in the company, valued at $3,074,517.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jon E. Barfield sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total value of $296,588.16. The disclosure for this sale can be found here. Insiders sold 11,836 shares of company stock worth $561,118 over the last quarter. 0.65% of the stock is currently owned by company insiders.
CMS Energy Corporation 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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