Teacher Retirement System of Texas bought a new position in shares of CMS Energy Corporation (NYSE:CMS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 135,351 shares of the utilities provider’s stock, valued at approximately $6,269,000.
A number of other hedge funds also recently made changes to their positions in CMS. BlackRock Inc. boosted its stake in CMS Energy Corporation by 11.6% during the second quarter. BlackRock Inc. now owns 25,533,148 shares of the utilities provider’s stock worth $1,180,906,000 after buying an additional 2,653,503 shares during the period. JPMorgan Chase & Co. boosted its stake in CMS Energy Corporation by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 20,781,645 shares of the utilities provider’s stock worth $961,152,000 after buying an additional 2,145,055 shares during the period. Eaton Vance Management boosted its stake in CMS Energy Corporation by 339.0% during the second quarter. Eaton Vance Management now owns 2,534,240 shares of the utilities provider’s stock worth $117,209,000 after buying an additional 1,957,005 shares during the period. Janus Henderson Group PLC lifted its position in shares of CMS Energy Corporation by 3,063.0% during the second quarter. Janus Henderson Group PLC now owns 1,302,969 shares of the utilities provider’s stock worth $60,263,000 after purchasing an additional 1,261,775 shares in the last quarter. Finally, Brookfield Asset Management Inc. lifted its position in shares of CMS Energy Corporation by 25,046.4% during the second quarter. Brookfield Asset Management Inc. now owns 894,959 shares of the utilities provider’s stock worth $41,392,000 after purchasing an additional 891,400 shares in the last quarter. 87.65% of the stock is owned by institutional investors.
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Several analysts have recently issued reports on CMS shares. Bank of America Corporation started coverage on shares of CMS Energy Corporation in a research report on Tuesday, October 24th. They set a “buy” rating and a $52.00 price target on the stock. KeyCorp reissued a “buy” rating and set a $51.00 price target on shares of CMS Energy Corporation in a research report on Friday, September 1st. Morgan Stanley increased their price target on shares of CMS Energy Corporation from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Guggenheim started coverage on shares of CMS Energy Corporation in a research report on Tuesday, September 5th. They set a “neutral” rating and a $48.00 price target on the stock. Finally, Zacks Investment Research cut shares of CMS Energy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. CMS Energy Corporation presently has a consensus rating of “Buy” and an average target price of $48.90.
In other CMS Energy Corporation news, SVP Brian F. Rich sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $48.26, for a total value of $168,910.00. Following the transaction, the senior vice president now directly owns 44,835 shares in the company, valued at $2,163,737.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $48.02, for a total transaction of $48,020.00. Following the completion of the transaction, the insider now owns 28,176 shares in the company, valued at $1,353,011.52. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
CMS Energy Corporation (NYSE CMS) opened at $49.59 on Friday. The company has a market cap of $13,985.02, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 3.53 and a beta of 0.18. CMS Energy Corporation has a one year low of $39.42 and a one year high of $50.85. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 1.99.
CMS Energy Corporation (NYSE:CMS) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.60 billion. CMS Energy Corporation had a net margin of 8.38% and a return on equity of 12.30%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. equities research analysts anticipate that CMS Energy Corporation will post 2.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, November 3rd will be paid a $0.3325 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $1.33 annualized dividend and a yield of 2.68%. CMS Energy Corporation’s dividend payout ratio is currently 68.91%.
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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