CMS Energy Co. (CMS) Shares Bought by RidgeWorth Capital Management LLC
RidgeWorth Capital Management LLC increased its position in CMS Energy Co. (NYSE:CMS) by 31.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 877,550 shares of the utilities provider’s stock after buying an additional 209,400 shares during the period. RidgeWorth Capital Management LLC owned about 0.31% of CMS Energy worth $39,262,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of CMS. Quadrant Capital Group LLC increased its stake in CMS Energy by 5.7% in the first quarter. Quadrant Capital Group LLC now owns 2,701 shares of the utilities provider’s stock worth $118,000 after buying an additional 145 shares in the last quarter. Bessemer Group Inc. increased its stake in CMS Energy by 3,803.6% in the fourth quarter. Bessemer Group Inc. now owns 4,372 shares of the utilities provider’s stock worth $182,000 after buying an additional 4,260 shares in the last quarter. Parametrica Management Ltd bought a new stake in CMS Energy during the first quarter worth about $200,000. Brown Advisory Inc. bought a new stake in CMS Energy during the fourth quarter worth about $203,000. Finally, Blue Chip Partners Inc. increased its stake in CMS Energy by 0.7% in the first quarter. Blue Chip Partners Inc. now owns 4,610 shares of the utilities provider’s stock worth $206,000 after buying an additional 34 shares in the last quarter. 88.34% of the stock is owned by institutional investors.
Shares of CMS Energy Co. (NYSE:CMS) traded up 0.32% during mid-day trading on Wednesday, hitting $46.82. 2,672,869 shares of the stock were exchanged. The company has a market cap of $13.11 billion, a P/E ratio of 22.28 and a beta of 0.08. CMS Energy Co. has a 52-week low of $38.78 and a 52-week high of $46.94. The stock’s 50-day moving average price is $45.40 and its 200-day moving average price is $43.16.
CMS Energy (NYSE:CMS) last posted its earnings results on Monday, May 1st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. CMS Energy had a net margin of 8.61% and a return on equity of 13.31%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business posted $0.59 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that CMS Energy Co. will post $2.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Friday, May 5th will be paid a $0.3325 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, May 3rd. CMS Energy’s dividend payout ratio is currently 66.83%.
Several analysts have weighed in on the stock. Zacks Investment Research raised shares of CMS Energy from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, February 21st. Deutsche Bank AG boosted their price target on shares of CMS Energy from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. BMO Capital Markets reissued a “buy” rating and issued a $48.00 price target on shares of CMS Energy in a research note on Tuesday, May 2nd. Barclays PLC reaffirmed an “equal weight” rating and set a $49.00 price objective (up from $44.00) on shares of CMS Energy in a research note on Sunday, April 23rd. Finally, Credit Suisse Group AG initiated coverage on shares of CMS Energy in a research report on Wednesday, January 25th. They set a “neutral” rating and a $44.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $46.60.
In related news, insider Dhenuvakonda Rao Venkat sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $45.50, for a total value of $91,000.00. Following the completion of the transaction, the insider now directly owns 30,022 shares in the company, valued at approximately $1,366,001. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Catherine M. Reynolds sold 10,246 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $45.49, for a total transaction of $466,090.54. Following the completion of the transaction, the senior vice president now owns 113,956 shares of the company’s stock, valued at $5,183,858.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,246 shares of company stock valued at $1,279,011. Company insiders own 0.93% of the company’s stock.
About CMS Energy
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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