CMS Energy Corporation (CMS) Position Cut by HL Financial Services LLC
HL Financial Services LLC cut its stake in CMS Energy Corporation (NYSE:CMS) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,906 shares of the company’s stock after selling 3,715 shares during the period. HL Financial Services LLC’s holdings in CMS Energy Corporation were worth $1,524,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CMS. BlackRock Inc. raised its holdings in CMS Energy Corporation by 11.6% in the second quarter. BlackRock Inc. now owns 25,533,148 shares of the company’s stock valued at $1,180,906,000 after acquiring an additional 2,653,503 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in CMS Energy Corporation by 11.5% in the second quarter. JPMorgan Chase & Co. now owns 20,781,645 shares of the company’s stock valued at $961,152,000 after acquiring an additional 2,145,055 shares in the last quarter. Eaton Vance Management raised its holdings in CMS Energy Corporation by 339.0% in the second quarter. Eaton Vance Management now owns 2,534,240 shares of the company’s stock valued at $117,209,000 after acquiring an additional 1,957,005 shares in the last quarter. Janus Henderson Group PLC raised its holdings in CMS Energy Corporation by 3,063.0% in the second quarter. Janus Henderson Group PLC now owns 1,302,969 shares of the company’s stock valued at $60,263,000 after acquiring an additional 1,261,775 shares in the last quarter. Finally, Brookfield Asset Management Inc. raised its holdings in CMS Energy Corporation by 25,046.4% in the second quarter. Brookfield Asset Management Inc. now owns 894,959 shares of the company’s stock valued at $41,392,000 after acquiring an additional 891,400 shares in the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.
CMS Energy Corporation (CMS) traded down C$0.01 during mid-day trading on Friday, hitting C$49.27. 2,010,000 shares of the company were exchanged, compared to its average volume of 1,997,884. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.59 and a current ratio of 0.94. CMS Energy Corporation has a 1-year low of C$38.92 and a 1-year high of C$49.41. The firm has a market cap of $13,894.78, a PE ratio of 25.27, a PEG ratio of 3.51 and a beta of 0.18.
CMS Energy Corporation (NYSE:CMS) last released its quarterly earnings data on Thursday, October 26th. The company reported C$0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.55 by C$0.07. CMS Energy Corporation had a net margin of 8.38% and a return on equity of 12.30%. The business had revenue of C$1.53 billion for the quarter, compared to analysts’ expectations of C$1.60 billion. During the same quarter last year, the company earned $0.70 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. analysts expect that CMS Energy Corporation will post 2.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 3rd will be issued a $0.3325 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.70%. CMS Energy Corporation’s dividend payout ratio (DPR) is presently 68.91%.
In related news, SVP Brian F. Rich sold 3,500 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of C$48.26, for a total value of C$168,910.00. Following the sale, the senior vice president now owns 44,835 shares of the company’s stock, valued at approximately C$2,163,737.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Garrick J. Rochow sold 2,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of C$47.81, for a total transaction of C$95,620.00. Following the completion of the sale, the insider now directly owns 64,307 shares in the company, valued at approximately C$3,074,517.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,500 shares of company stock worth $312,550. Corporate insiders own 0.65% of the company’s stock.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of CMS Energy Corporation from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Morgan Stanley assumed coverage on shares of CMS Energy Corporation in a report on Monday, July 31st. They set an “equal weight” rating and a $47.00 target price on the stock. Credit Suisse Group raised shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $46.00 to $50.00 in a report on Monday, July 24th. KeyCorp reissued a “buy” rating and set a $51.00 target price on shares of CMS Energy Corporation in a report on Friday, September 1st. Finally, BidaskClub raised shares of CMS Energy Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of C$48.90.
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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