CMS Energy Corporation (CMS) Issues FY17 Earnings Guidance
CMS Energy Corporation (NYSE:CMS) issued an update on its FY17 earnings guidance on Monday morning. The company provided EPS guidance of $2.14-2.18 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.17.
CMS Energy Corporation (NYSE:CMS) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Friday, August 4th were issued a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Wednesday, August 2nd. CMS Energy Corporation’s dividend payout ratio is currently 66.83%.
Several research analysts have weighed in on CMS shares. BidaskClub downgraded shares of CMS Energy Corporation from a buy rating to a hold rating in a research report on Thursday, July 6th. Royal Bank Of Canada restated a hold rating and set a $46.00 price objective on shares of CMS Energy Corporation in a research report on Monday, September 11th. Morgan Stanley set a $49.00 price objective on shares of CMS Energy Corporation and gave the company a hold rating in a research report on Thursday, August 10th. BMO Capital Markets restated a buy rating and set a $48.00 price objective on shares of CMS Energy Corporation in a research report on Monday, July 31st. Finally, Guggenheim started coverage on shares of CMS Energy Corporation in a research report on Tuesday, September 5th. They set a neutral rating and a $48.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $48.20.
In related news, Director Jon E. Barfield sold 6,336 shares of CMS Energy Corporation 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian F. Rich sold 3,500 shares of CMS Energy Corporation stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $48.26, for a total transaction of $168,910.00. Following the transaction, the senior vice president now directly owns 44,835 shares of the company’s stock, valued at $2,163,737.10. The disclosure for this sale can be found here. Insiders sold a total of 11,836 shares of company stock valued at $561,118 over the last three months. Corporate insiders own 0.65% of the company’s stock.
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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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