CMS Energy Corp. (CMS) Director Purchases $121,770.00 in Stock
CMS Energy Corp. (NYSE:CMS) Director William D. Harvey bought 3,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was acquired at an average price of $40.59 per share, for a total transaction of $121,770.00. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
CMS Energy Corp. (NYSE:CMS) opened at 39.75 on Monday. The stock has a 50 day moving average of $41.32 and a 200 day moving average of $42.62. The company has a market cap of $11.09 billion, a PE ratio of 19.10 and a beta of 0.08. CMS Energy Corp. has a 12-month low of $34.18 and a 12-month high of $46.25.
CMS Energy Corp. (NYSE:CMS) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.10. The company earned $1.59 billion during the quarter, compared to the consensus estimate of $1.63 billion. CMS Energy Corp. had a net margin of 9.25% and a return on equity of 14.16%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Equities analysts expect that CMS Energy Corp. will post $2.02 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Friday, November 4th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, November 2nd. CMS Energy Corp.’s dividend payout ratio (DPR) is currently 59.33%.
Several large investors have recently made changes to their positions in the stock. First Republic Investment Management Inc. increased its stake in CMS Energy Corp. by 72.4% in the first quarter. First Republic Investment Management Inc. now owns 17,423 shares of the company’s stock worth $739,000 after buying an additional 7,315 shares during the period. Euclid Advisors LLC increased its stake in CMS Energy Corp. by 597.3% in the first quarter. Euclid Advisors LLC now owns 66,732 shares of the company’s stock worth $2,832,000 after buying an additional 57,162 shares during the period. Avalon Advisors LLC increased its stake in CMS Energy Corp. by 32.6% in the first quarter. Avalon Advisors LLC now owns 378,772 shares of the company’s stock worth $16,075,000 after buying an additional 93,192 shares during the period. Squarepoint Ops LLC increased its stake in CMS Energy Corp. by 123.3% in the first quarter. Squarepoint Ops LLC now owns 64,659 shares of the company’s stock worth $2,744,000 after buying an additional 35,698 shares during the period. Finally, Seven Eight Capital LLC increased its stake in CMS Energy Corp. by 198.3% in the first quarter. Seven Eight Capital LLC now owns 11,283 shares of the company’s stock worth $479,000 after buying an additional 7,500 shares during the period. 88.19% of the stock is owned by institutional investors.
CMS has been the topic of several research analyst reports. Zacks Investment Research downgraded CMS Energy Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. SunTrust Banks Inc. upped their price objective on CMS Energy Corp. from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of CMS Energy Corp. in a research note on Friday, July 29th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.75.
CMS Energy Corp. Company Profile
CMS Energy Corporation (CMS Energy) is an energy company operating primarily in Michigan. The Company operates in three segments, which include Consumers Electric Utility, Consumers Gas Utility and Enterprises (non-utility operations and investments). CMS Energy, through its subsidiaries and equity investments, is engaged primarily in independent power production and owns power generation facilities fueled by natural gas and biomass.
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