CMS Energy Corporation (CMS) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its holdings in shares of CMS Energy Corporation (NYSE:CMS) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 948,264 shares of the utilities provider’s stock after purchasing an additional 54,261 shares during the period. Schwab Charles Investment Management Inc. owned about 0.34% of CMS Energy Corporation worth $43,858,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in shares of CMS Energy Corporation by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 370 shares during the period. Brookfield Asset Management Inc. purchased a new position in shares of CMS Energy Corporation during the 1st quarter worth approximately $159,000. Meeder Asset Management Inc. purchased a new position in shares of CMS Energy Corporation during the 2nd quarter worth approximately $185,000. Trust Co. of Toledo NA OH purchased a new position in shares of CMS Energy Corporation during the 2nd quarter worth approximately $205,000. Finally, Laurion Capital Management LP purchased a new position in shares of CMS Energy Corporation during the 1st quarter worth approximately $201,000. Institutional investors own 87.45% of the company’s stock.
In related news, Director Jon E. Barfield sold 6,336 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total transaction of $296,588.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Garrick J. Rochow sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $47.81, for a total transaction of $95,620.00. Following the sale, the insider now directly owns 64,307 shares of the company’s stock, valued at approximately $3,074,517.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,836 shares of company stock valued at $561,118. 0.65% of the stock is owned by corporate insiders.
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Shares of CMS Energy Corporation (NYSE:CMS) opened at 48.66 on Monday. The stock has a 50 day moving average price of $47.64 and a 200-day moving average price of $46.19. The company has a market capitalization of $13.70 billion, a PE ratio of 24.58 and a beta of 0.17. CMS Energy Corporation has a 12 month low of $38.78 and a 12 month high of $48.91.
CMS Energy Corporation (NYSE:CMS) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the company posted $0.45 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. Analysts forecast that CMS Energy Corporation will post $2.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Friday, August 4th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.33 annualized dividend and a yield of 2.73%. CMS Energy Corporation’s dividend payout ratio is presently 66.83%.
A number of research firms have weighed in on CMS. BMO Capital Markets reiterated a “buy” rating and set a $48.00 target price on shares of CMS Energy Corporation in a report on Monday, July 31st. Guggenheim began coverage on CMS Energy Corporation in a report on Tuesday, September 5th. They set a “neutral” rating and a $48.00 target price on the stock. BidaskClub upgraded CMS Energy Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Morgan Stanley set a $49.00 target price on CMS Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 10th. Finally, KeyCorp reiterated a “buy” rating and set a $51.00 target price on shares of CMS Energy Corporation in a report on Friday, September 1st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $48.20.
CMS Energy Corporation 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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