Millennium Management LLC reduced its position in CMS Energy Co. (NYSE:CMS) by 20.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,140,599 shares of the utilities provider’s stock after selling 810,978 shares during the period. Millennium Management LLC owned about 1.11% of CMS Energy worth $148,550,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation increased its stake in CMS Energy by 8,255.2% in the 3rd quarter. Zions Bancorporation now owns 2,423 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 2,394 shares in the last quarter. Cerebellum GP LLC acquired a new stake in CMS Energy during the 4th quarter valued at $122,000. Tower Research Capital LLC TRC grew its holdings in CMS Energy by 271.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock valued at $129,000 after buying an additional 1,998 shares during the last quarter. IBM Retirement Fund acquired a new stake in CMS Energy during the 3rd quarter valued at $205,000. Finally, Mackenzie Financial Corp acquired a new stake in CMS Energy during the 4th quarter valued at $213,000. 88.32% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Catherine M. Reynolds sold 8,310 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $43.40, for a total transaction of $360,654.00. Following the sale, the senior vice president now owns 126,810 shares in the company, valued at $5,503,554. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by company insiders.
CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Wednesday, February 14th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. CMS Energy had a return on equity of 13.60% and a net margin of 6.99%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $0.29 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. research analysts expect that CMS Energy Co. will post 2.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th were issued a dividend of $0.3575 per share. This is a boost from CMS Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.43 annualized dividend and a dividend yield of 3.33%. CMS Energy’s dividend payout ratio (DPR) is 87.20%.
A number of equities research analysts have commented on the company. Morgan Stanley lowered their target price on CMS Energy from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, March 8th. SunTrust Banks reiterated a “hold” rating and set a $45.00 target price on shares of CMS Energy in a report on Monday, January 29th. TheStreet cut CMS Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 14th. Wells Fargo & Co lowered their target price on CMS Energy from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, UBS Group assumed coverage on CMS Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $49.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. CMS Energy currently has a consensus rating of “Buy” and a consensus price target of $48.29.
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CMS Energy 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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