Insider Selling: CMS Energy Corporation (CMS) Insider Sells 1,000 Shares of Stock
CMS Energy Corporation (NYSE:CMS) insider Dhenuvakonda Rao Venkat sold 1,000 shares of CMS Energy Corporation stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $48.02, for a total transaction of $48,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
CMS Energy Corporation (NYSE:CMS) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.07. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.60 billion. CMS Energy Corporation had a net margin of 8.38% and a return on equity of 12.30%. CMS Energy Corporation’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share.
The company also recently announced 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. This represents a $1.33 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, November 2nd. CMS Energy Corporation’s payout ratio is presently 68.91%.
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Large investors have recently modified their holdings of the business. Archford Capital Strategies LLC increased its stake in CMS Energy Corporation by 62.0% in the second quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 438 shares in the last quarter. IHT Wealth Management LLC bought a new stake in CMS Energy Corporation in the second quarter valued at approximately $310,000. Meeder Asset Management Inc. bought a new stake in CMS Energy Corporation in the second quarter valued at approximately $185,000. Trust Co. of Toledo NA OH bought a new stake in CMS Energy Corporation in the second quarter valued at approximately $205,000. Finally, Colony Group LLC bought a new stake in CMS Energy Corporation in the second quarter valued at approximately $217,000. 87.26% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. Credit Suisse Group upgraded shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $46.00 to $50.00 in a research report on Monday, July 24th. Morgan Stanley set a $49.00 price target on shares of CMS Energy Corporation and gave the stock a “hold” rating in a research report on Thursday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a research report on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and issued a $46.00 price target on shares of CMS Energy Corporation in a research report on Monday, September 11th. Finally, Zacks Investment Research upgraded shares of CMS Energy Corporation from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. CMS Energy Corporation has a consensus rating of “Buy” and an average price target of $48.90.
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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