Ontario Teachers Pension Plan Board reduced its holdings in CMS Energy Co. (NYSE:CMS) by 76.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,786 shares of the utilities provider’s stock after selling 54,807 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in CMS Energy were worth $986,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CMS. CNB Bank bought a new position in CMS Energy in the 4th quarter worth about $26,000. NorthRock Partners LLC bought a new position in CMS Energy in the 4th quarter worth about $28,000. Rockefeller Capital Management L.P. increased its stake in CMS Energy by 86.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 467 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 217 shares during the last quarter. First Horizon Advisors Inc. increased its stake in CMS Energy by 420.8% in the 1st quarter. First Horizon Advisors Inc. now owns 526 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Retirement Network bought a new position in CMS Energy in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 90.31% of the company’s stock.
In other news, Director John G. Russell sold 5,600 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $55.73, for a total value of $312,088.00. Following the transaction, the director now directly owns 181,763 shares in the company, valued at $10,129,651.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dhenuvakonda Rao Venkat sold 875 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $55.76, for a total value of $48,790.00. Following the completion of the transaction, the senior vice president now owns 34,092 shares in the company, valued at $1,900,969.92. The disclosure for this sale can be found here. Insiders have sold 11,040 shares of company stock worth $610,741 over the last quarter. 0.50% of the stock is owned by company insiders.
Several equities analysts have recently commented on the company. Mizuho assumed coverage on CMS Energy in a research report on Thursday, May 14th. They set a “neutral” rating and a $55.00 price objective on the stock. Citigroup lifted their price objective on CMS Energy from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Barclays raised CMS Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Friday, May 15th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $62.00 price objective on shares of CMS Energy in a report on Thursday, April 30th. Finally, Vertical Research began coverage on CMS Energy in a report on Monday, February 24th. They issued a “buy” rating and a $76.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $63.83.
NYSE CMS opened at $55.59 on Friday. The company has a market capitalization of $15.67 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 3.02 and a beta of 0.20. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.81 and a current ratio of 0.96. The business’s fifty day moving average is $57.81 and its 200 day moving average is $61.76. CMS Energy Co. has a fifty-two week low of $46.03 and a fifty-two week high of $69.17.
CMS Energy (NYSE:CMS) last released its earnings results on Monday, April 27th. The utilities provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.07 billion. CMS Energy had a return on equity of 14.68% and a net margin of 10.68%. CMS Energy’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. On average, sell-side analysts forecast that CMS Energy Co. will post 2.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.63 annualized dividend and a yield of 2.93%. CMS Energy’s dividend payout ratio (DPR) is presently 65.46%.
CMS Energy Company Profile
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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