CMS Energy Corporation (NYSE:CMS) Director Jon E. Barfield sold 6,336 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total value of $296,588.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of CMS Energy Corporation (NYSE CMS) traded up 0.77% during mid-day trading on Friday, reaching $48.21. The company’s stock had a trading volume of 3,358,407 shares. CMS Energy Corporation has a 1-year low of $38.78 and a 1-year high of $48.50. The firm’s 50 day moving average price is $46.63 and its 200-day moving average price is $45.62. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 24.35 and a beta of 0.16.
CMS Energy Corporation (NYSE:CMS) last issued 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. 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 analysts’ expectations of $1.36 billion. During the same period in the prior year, the business posted $0.45 EPS. The business’s revenue was up 5.7% on a year-over-year basis. On average, analysts predict that CMS Energy Corporation will post $2.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 4th will be paid a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, August 2nd. CMS Energy Corporation’s dividend payout ratio (DPR) is 66.83%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Archford Capital Strategies LLC raised its position in shares of CMS Energy Corporation by 62.0% in the second quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock valued at $122,000 after buying an additional 438 shares in the last quarter. Colony Group LLC bought a new position in shares of CMS Energy Corporation during the second quarter valued at $217,000. Nomura Holdings Inc. raised its position in shares of CMS Energy Corporation by 129.7% in the second quarter. Nomura Holdings Inc. now owns 31,178 shares of the utilities provider’s stock valued at $1,442,000 after buying an additional 17,607 shares in the last quarter. IHT Wealth Management LLC bought a new position in shares of CMS Energy Corporation during the second quarter valued at $310,000. Finally, Friedberg Investment Management raised its position in shares of CMS Energy Corporation by 60.4% in the second quarter. Friedberg Investment Management now owns 36,230 shares of the utilities provider’s stock valued at $1,676,000 after buying an additional 13,640 shares in the last quarter. 85.93% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the company. Barclays PLC reiterated 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. BidaskClub cut CMS Energy Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Morgan Stanley assumed coverage on CMS Energy Corporation in a report on Monday, July 31st. They issued an “equal weight” rating and a $47.00 price objective on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $48.00 price objective on shares of CMS Energy Corporation in a report on Monday, July 31st. Finally, Credit Suisse Group upgraded CMS Energy Corporation from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $46.00 to $50.00 in a report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $47.75.
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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