CMS Energy Corporation (NYSE:CMS) announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07, Bloomberg Earnings reports. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.60 billion. CMS Energy Corporation had a return on equity of 12.30% and a net margin of 8.38%. CMS Energy Corporation’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. CMS Energy Corporation updated its FY17 guidance to $2.15-2.19 EPS and its FY18 guidance to $2.29 to $2.33 EPS.
CMS Energy Corporation (CMS) traded down $0.01 during mid-day trading on Friday, hitting $49.27. 2,010,400 shares of the stock traded hands, compared to its average volume of 1,833,775. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.94 and a quick ratio of 0.59. CMS Energy Corporation has a 12-month low of $38.92 and a 12-month high of $49.41. The company has a market capitalization of $13,897.58, a P/E ratio of 25.27, a P/E/G ratio of 3.51 and a beta of 0.18.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 3rd will be paid a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 2.70%. The ex-dividend date is Thursday, November 2nd. CMS Energy Corporation’s payout ratio is 68.91%.
In other news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $48.02, for a total value of $48,020.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian F. Rich sold 3,500 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $48.26, for a total transaction of $168,910.00. Following the sale, the senior vice president now owns 44,835 shares of the company’s stock, valued at $2,163,737.10. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $312,550 over the last three months. 0.65% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research downgraded CMS Energy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Morgan Stanley began coverage on shares of CMS Energy Corporation in a research note on Monday, July 31st. They set an “equal weight” rating and a $47.00 price target for the company. Credit Suisse Group upgraded shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $46.00 to $50.00 in a research note on Monday, July 24th. KeyCorp reiterated a “buy” rating and issued a $51.00 target price on shares of CMS Energy Corporation in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of CMS Energy Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $48.90.
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CMS Energy Corporation 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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