Balyasny Asset Management LLC Acquires New Shares in CMS Energy Co. (NYSE:CMS)
Balyasny Asset Management LLC acquired a new position in shares of CMS Energy Co. (NYSE:CMS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,736 shares of the utilities provider’s stock, valued at approximately $394,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CMS. TCF National Bank increased its stake in shares of CMS Energy by 2.7% during the 2nd quarter. TCF National Bank now owns 6,245 shares of the utilities provider’s stock worth $362,000 after purchasing an additional 165 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of CMS Energy by 0.9% in the second quarter. Advisors Asset Management Inc. now owns 19,433 shares of the utilities provider’s stock worth $1,135,000 after acquiring an additional 177 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of CMS Energy by 0.4% during the second quarter. Commonwealth Equity Services LLC now owns 47,276 shares of the utilities provider’s stock valued at $2,761,000 after acquiring an additional 182 shares during the last quarter. Louisiana State Employees Retirement System increased its position in CMS Energy by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the utilities provider’s stock worth $719,000 after purchasing an additional 200 shares in the last quarter. Finally, CVA Family Office LLC raised its stake in CMS Energy by 87.0% in the 2nd quarter. CVA Family Office LLC now owns 430 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 92.07% of the company’s stock.
CMS Energy stock opened at $61.11 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $17.58 billion, a P/E ratio of 23.06, a PEG ratio of 3.31 and a beta of 0.14. The firm has a fifty day moving average of $61.55 and a 200-day moving average of $59.63. CMS Energy Co. has a 52-week low of $46.03 and a 52-week high of $69.17.
The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 7th were issued a dividend of $0.4075 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.63 annualized dividend and a dividend yield of 2.67%. CMS Energy’s payout ratio is currently 65.46%.
In other CMS Energy news, SVP Jean-Francois Brossoit sold 1,600 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $62.25, for a total value of $99,600.00. Following the transaction, the senior vice president now owns 46,070 shares in the company, valued at approximately $2,867,857.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Catherine A. Hendrian sold 1,584 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $62.78, for a total transaction of $99,443.52. Following the completion of the transaction, the senior vice president now directly owns 41,218 shares of the company’s stock, valued at $2,587,666.04. The disclosure for this sale can be found here. Insiders have sold a total of 8,743 shares of company stock worth $538,927 over the last three months. 0.50% of the stock is currently owned by corporate insiders.
Several brokerages recently issued reports on CMS. BMO Capital Markets started coverage on shares of CMS Energy in a research report on Thursday, July 9th. They set an “outperform” rating and a $63.00 target price on the stock. Citigroup raised their price objective on CMS Energy from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Credit Suisse Group dropped their target price on CMS Energy from $59.00 to $57.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Morgan Stanley raised their price target on CMS Energy from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CMS Energy from $70.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. CMS Energy presently has a consensus rating of “Buy” and an average price target of $63.27.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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