Commonwealth Bank of Australia trimmed its stake in CMS Energy Corporation (NYSE:CMS) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,084 shares of the utilities provider’s stock after selling 579 shares during the period. Commonwealth Bank of Australia’s holdings in CMS Energy Corporation were worth $1,297,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp grew its position 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 acquiring an additional 370 shares during the period. Brookfield Asset Management Inc. bought a new stake in CMS Energy Corporation in the first quarter valued at $159,000. Meeder Asset Management Inc. bought a new stake in CMS Energy Corporation in the second quarter valued at $185,000. Trust Co. of Toledo NA OH bought a new stake in CMS Energy Corporation in the second quarter valued at $205,000. Finally, Laurion Capital Management LP bought a new stake in CMS Energy Corporation in the first quarter valued at $201,000. Hedge funds and other institutional investors own 87.45% of the company’s stock.
A number of brokerages have weighed in on CMS. Royal Bank Of Canada reiterated a “hold” rating and issued a $46.00 price target on shares of CMS Energy Corporation in a research report on Monday. Morgan Stanley upped their price target on CMS Energy Corporation from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Guggenheim began coverage on CMS Energy Corporation in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $48.00 price target on the stock. KeyCorp reiterated a “buy” rating and issued a $51.00 price target on shares of CMS Energy Corporation in a research report on Friday, September 1st. Finally, BidaskClub upgraded CMS Energy Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. CMS Energy Corporation currently has an average rating of “Buy” and an average target price of $48.20.
Shares of CMS Energy Corporation (NYSE:CMS) opened at 47.90 on Friday. The company has a market cap of $13.49 billion, a PE ratio of 24.19 and a beta of 0.17. The stock’s 50 day moving average price is $47.83 and its 200 day moving average price is $46.31. CMS Energy Corporation has a one year low of $38.78 and a one year high of $49.11.
CMS Energy Corporation (NYSE:CMS) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.08). CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts predict that CMS Energy Corporation will post $2.17 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Friday, August 4th were paid a $0.3325 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.33 annualized dividend and a dividend yield of 2.78%. CMS Energy Corporation’s payout ratio is 66.83%.
In other news, SVP Brian F. Rich sold 3,500 shares of CMS Energy Corporation stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $48.26, for a total value of $168,910.00. Following the transaction, the senior vice president now owns 44,835 shares in the company, valued at approximately $2,163,737.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jon E. Barfield sold 6,336 shares of CMS Energy Corporation stock in a transaction 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. In the last quarter, insiders sold 11,836 shares of company stock worth $561,118. Corporate insiders own 0.65% of the company’s stock.
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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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