Chevy Chase Trust Holdings Inc. boosted its position in shares of CMS Energy Corporation (NYSE:CMS) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 243,345 shares of the utilities provider’s stock after buying an additional 298 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of CMS Energy Corporation worth $11,255,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. 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 worth $1,023,636,000 after buying an additional 21,830,781 shares in the last quarter. Vanguard Group Inc. raised its position in 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 during the period. Renaissance Technologies LLC raised its position in 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 during the period. Canada Pension Plan Investment Board raised its position in 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 during the period. Finally, Wells Fargo & Company MN raised its position in 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 during the period. 86.49% of the stock is currently owned by institutional investors and hedge funds.
CMS Energy Corporation (CMS) traded down 0.36% on Friday, hitting $47.31. The company had a trading volume of 1,194,255 shares. The stock has a 50 day moving average of $46.50 and a 200-day moving average of $45.41. CMS Energy Corporation has a one year low of $38.78 and a one year high of $48.37. The stock has a market capitalization of $13.32 billion, a PE ratio of 23.89 and a beta of 0.16.
CMS Energy Corporation (NYSE:CMS) last released its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.08. CMS Energy Corporation had a return on equity of 12.98% and a net margin of 8.52%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business earned $0.45 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate 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. Stockholders 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 2.81%. The ex-dividend date of this dividend is Wednesday, August 2nd. CMS Energy Corporation’s payout ratio is currently 66.83%.
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CMS has been the topic of several recent analyst reports. Barclays PLC reaffirmed an “equal weight” rating and set a $49.00 price target (up previously from $44.00) on shares of CMS Energy Corporation in a research report on Sunday, April 23rd. BMO Capital Markets reaffirmed a “buy” rating and set a $48.00 price target on shares of CMS Energy Corporation in a research report on Tuesday, May 2nd. BidaskClub raised CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Credit Suisse Group raised CMS Energy Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $46.00 to $50.00 in a research report on Monday, July 24th. Finally, Morgan Stanley initiated coverage on CMS Energy Corporation in a research report on Monday, July 31st. They set an “equal weight” rating and a $47.00 price target on the stock. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $47.75.
In related news, Director Jon E. Barfield sold 6,336 shares of CMS Energy Corporation stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $46.81, for a total transaction of $296,588.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Malone sold 10,000 shares of CMS Energy Corporation stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $47.42, for a total value of $474,200.00. Following 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. Insiders sold 68,336 shares of company stock valued at $3,223,288 over the last ninety days. Corporate 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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