CMS Energy Co. Announces Quarterly Dividend of $0.36 (CMS)
CMS Energy Co. (NYSE:CMS) announced a quarterly dividend on Thursday, July 19th, RTT News reports. Shareholders of record on Friday, August 3rd will be paid a dividend of 0.3575 per share by the utilities provider on Friday, August 31st. This represents a $1.43 annualized dividend and a yield of 2.98%.
CMS Energy has increased its dividend payment by an average of 7.2% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. CMS Energy has a dividend payout ratio of 61.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CMS Energy to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.43 annual dividend with an expected future payout ratio of 57.0%.
NYSE:CMS traded up $0.61 during trading hours on Thursday, hitting $47.99. 218,662 shares of the stock traded hands, compared to its average volume of 2,290,061. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. CMS Energy has a fifty-two week low of $40.48 and a fifty-two week high of $50.85. The company has a market cap of $13.45 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 3.21 and a beta of 0.08.
Several equities analysts have recently commented on the stock. KeyCorp boosted their price target on shares of CMS Energy from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley boosted their price target on shares of CMS Energy from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday. Citigroup boosted their price target on shares of CMS Energy from $46.00 to $49.00 and gave the company a “hold” rating in a report on Monday, July 9th. ValuEngine upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Finally, Zacks Investment Research upgraded shares of CMS Energy from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Thursday, June 14th. Seven 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 a consensus rating of “Buy” and an average target price of $48.50.
In related news, SVP Catherine M. Reynolds sold 5,611 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $46.05, for a total value of $258,386.55. Following the completion of the sale, the senior vice president now directly owns 122,203 shares in the company, valued at $5,627,448.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $46.62, for a total transaction of $46,620.00. Following the completion of the sale, the insider now owns 31,753 shares of the company’s stock, valued at $1,480,324.86. The disclosure for this sale can be found here. Insiders sold 17,611 shares of company stock valued at $817,617 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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