Zions Bancorporation Has $112,000 Stake in CMS Energy Co. (CMS)
Zions Bancorporation grew its holdings in shares of CMS Energy Co. (NYSE:CMS) by 8,255.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,423 shares of the utilities provider’s stock after buying an additional 2,394 shares during the quarter. Zions Bancorporation’s holdings in CMS Energy were worth $112,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Shell Asset Management Co. grew its holdings in shares of CMS Energy by 12.3% during the third quarter. Shell Asset Management Co. now owns 81,839 shares of the utilities provider’s stock valued at $2,427,000 after buying an additional 8,976 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of CMS Energy by 18.4% during the third quarter. Toronto Dominion Bank now owns 106,908 shares of the utilities provider’s stock valued at $4,951,000 after buying an additional 16,607 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of CMS Energy by 8.9% during the third quarter. Canada Pension Plan Investment Board now owns 965,860 shares of the utilities provider’s stock valued at $44,739,000 after buying an additional 79,200 shares during the last quarter. Magellan Asset Management Ltd grew its holdings in shares of CMS Energy by 8.0% during the second quarter. Magellan Asset Management Ltd now owns 187,371 shares of the utilities provider’s stock valued at $8,666,000 after buying an additional 13,823 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new position in shares of CMS Energy during the second quarter valued at about $2,909,000. Hedge funds and other institutional investors own 87.42% of the company’s stock.
Several research analysts recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and set a $52.00 price target on shares of CMS Energy in a report on Wednesday. KeyCorp restated a “buy” rating and set a $51.50 price target on shares of CMS Energy in a report on Friday. Royal Bank of Canada restated a “hold” rating and set a $46.00 price target on shares of CMS Energy in a report on Monday, September 11th. Guggenheim assumed coverage on shares of CMS Energy in a report on Tuesday, September 5th. They set a “neutral” rating and a $48.00 price target on the stock. Finally, BidaskClub upgraded shares of CMS Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $49.15.
CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.60 billion. CMS Energy had a net margin of 8.38% and a return on equity of 12.30%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. analysts predict that CMS Energy Co. will post 2.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Friday, November 3rd were given a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, November 2nd. CMS Energy’s dividend payout ratio is 68.91%.
In other CMS Energy news, insider David G. Mengebier sold 2,500 shares of CMS Energy stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $49.48, for a total value of $123,700.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of CMS Energy stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $48.02, for a total transaction of $48,020.00. Following the completion of the sale, the insider now directly owns 28,176 shares in the company, valued at approximately $1,353,011.52. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
CMS Energy Company 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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