Comerica Bank boosted its stake in CMS Energy Co. (NYSE:CMS – Get Rating) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,203 shares of the utilities provider’s stock after purchasing an additional 1,975 shares during the quarter. Comerica Bank’s holdings in CMS Energy were worth $5,473,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in CMS Energy by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 58,786 shares of the utilities provider’s stock worth $3,424,000 after purchasing an additional 3,401 shares during the period. Berger Financial Group Inc boosted its stake in CMS Energy by 2.2% in the 3rd quarter. Berger Financial Group Inc now owns 74,018 shares of the utilities provider’s stock worth $4,311,000 after purchasing an additional 1,620 shares during the period. Sargent Bickham Lagudis LLC raised its holdings in shares of CMS Energy by 83.1% in the 3rd quarter. Sargent Bickham Lagudis LLC now owns 1,776 shares of the utilities provider’s stock valued at $103,000 after acquiring an additional 806 shares in the last quarter. Prospera Financial Services Inc raised its holdings in shares of CMS Energy by 16.1% in the 3rd quarter. Prospera Financial Services Inc now owns 11,553 shares of the utilities provider’s stock valued at $673,000 after acquiring an additional 1,606 shares in the last quarter. Finally, Covea Finance purchased a new stake in shares of CMS Energy in the 3rd quarter valued at about $2,184,000. Institutional investors own 92.16% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on CMS. Credit Suisse Group raised CMS Energy from a “neutral” rating to an “outperform” rating and raised their price target for the company from $61.00 to $64.00 in a report on Monday, November 21st. Morgan Stanley raised their price target on CMS Energy from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Thursday, December 15th. Seaport Res Ptn reaffirmed a “buy” rating on shares of CMS Energy in a report on Thursday, October 6th. Guggenheim lowered their price target on CMS Energy from $70.00 to $57.00 in a report on Monday, October 24th. Finally, Wells Fargo & Company raised their price target on CMS Energy from $68.00 to $74.00 in a report on Wednesday, December 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, CMS Energy has an average rating of “Moderate Buy” and an average target price of $67.40.
Insider Buying and Selling
In related news, SVP Shaun M. Johnson sold 420 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $60.80, for a total transaction of $25,536.00. Following the transaction, the senior vice president now directly owns 44,425 shares in the company, valued at approximately $2,701,040. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Shaun M. Johnson sold 420 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $60.80, for a total transaction of $25,536.00. Following the transaction, the senior vice president now directly owns 44,425 shares in the company, valued at approximately $2,701,040. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Scott B. Mcintosh sold 875 shares of CMS Energy stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $57.17, for a total value of $50,023.75. Following the completion of the sale, the chief accounting officer now owns 22,907 shares in the company, valued at $1,309,593.19. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.
CMS Energy Stock Performance
Shares of NYSE CMS opened at $64.34 on Friday. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 2.52 and a beta of 0.32. The company has a current ratio of 1.22, a quick ratio of 0.69 and a debt-to-equity ratio of 1.75. CMS Energy Co. has a 1-year low of $52.41 and a 1-year high of $73.76. The stock’s 50-day moving average is $61.59 and its 200 day moving average is $63.44.
CMS Energy (NYSE:CMS – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. CMS Energy had a return on equity of 11.22% and a net margin of 15.63%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.76 billion. On average, sell-side analysts anticipate that CMS Energy Co. will post 2.89 EPS for the current fiscal year.
CMS Energy Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Friday, November 4th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, November 3rd. This represents a $1.84 annualized dividend and a yield of 2.86%. CMS Energy’s payout ratio is 41.16%.
About CMS Energy
(Get Rating)
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.
Featured Stories
Want to see what other hedge funds are holding CMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CMS Energy Co. (NYSE:CMS – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider CMS Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and CMS Energy wasn’t on the list.
While CMS Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discussion about this post