CMS Energy Corporation (CMS) Director Sells $296,588.16 in Stock
CMS Energy Corporation (NYSE:CMS) Director Jon E. Barfield sold 6,336 shares of CMS Energy Corporation stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total value of $296,588.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
CMS Energy Corporation (NYSE CMS) traded up 0.09% during midday trading on Monday, hitting $47.07. The company had a trading volume of 447,744 shares. CMS Energy Corporation has a 52-week low of $38.78 and a 52-week high of $48.37. The stock has a 50 day moving average of $46.65 and a 200 day moving average of $45.19. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 23.77 and a beta of 0.16.
CMS Energy Corporation (NYSE:CMS) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.08. CMS Energy Corporation had a return on equity of 12.98% and a net margin of 8.52%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, analysts anticipate that CMS Energy Corporation will post $2.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Friday, August 4th will be given a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, August 2nd. CMS Energy Corporation’s payout ratio is 66.83%.
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A number of equities research analysts have commented on CMS shares. Deutsche Bank AG lifted their target price on CMS Energy Corporation from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. BidaskClub downgraded CMS Energy Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. BMO Capital Markets restated a “buy” rating and issued a $48.00 target price on shares of CMS Energy Corporation in a research report on Monday, July 31st. Barclays PLC restated an “equal weight” rating and issued a $49.00 target price (up previously from $44.00) on shares of CMS Energy Corporation in a research report on Sunday, April 23rd. Finally, Credit Suisse Group upgraded CMS Energy Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $46.00 to $50.00 in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.50.
Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of CMS Energy Corporation by 18.0% in the first quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock worth $108,000 after buying an additional 370 shares during the period. Quadrant Capital Group LLC increased its position in shares of CMS Energy Corporation by 5.7% in the first quarter. Quadrant Capital Group LLC now owns 2,701 shares of the utilities provider’s stock worth $118,000 after buying an additional 145 shares during the period. Brookfield Asset Management Inc. bought a new position in shares of CMS Energy Corporation during the first quarter worth about $159,000. Meeder Asset Management Inc. bought a new position in shares of CMS Energy Corporation during the second quarter worth about $185,000. Finally, Parametrica Management Ltd bought a new position in shares of CMS Energy Corporation during the first quarter worth about $200,000. 86.49% of the stock is currently owned by institutional investors and hedge funds.
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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