Penserra Capital Management LLC purchased a new position in CMS Energy Co. (NYSE:CMS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,635 shares of the utilities provider’s stock, valued at approximately $1,844,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Manning & Napier Group LLC increased its position in CMS Energy by 3.8% in the third quarter. Manning & Napier Group LLC now owns 28,266 shares of the utilities provider’s stock worth $1,384,000 after buying an additional 1,045 shares in the last quarter. Cognios Capital LLC increased its position in CMS Energy by 2.1% in the second quarter. Cognios Capital LLC now owns 57,394 shares of the utilities provider’s stock worth $2,712,000 after buying an additional 1,198 shares in the last quarter. CIBC Asset Management Inc increased its position in CMS Energy by 4.3% in the second quarter. CIBC Asset Management Inc now owns 30,807 shares of the utilities provider’s stock worth $1,457,000 after buying an additional 1,270 shares in the last quarter. Amalgamated Bank increased its position in CMS Energy by 4.1% in the second quarter. Amalgamated Bank now owns 36,235 shares of the utilities provider’s stock worth $1,713,000 after buying an additional 1,436 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in CMS Energy by 0.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 445,179 shares of the utilities provider’s stock worth $21,814,000 after buying an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.
In related news, Director Jon E. Barfield sold 2,861 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $48.45, for a total transaction of $138,615.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian F. Rich sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $49.69, for a total value of $198,760.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,861 shares of company stock valued at $386,145. 0.65% of the stock is owned by corporate insiders.
A number of equities analysts have recently weighed in on CMS shares. KeyCorp upped their price objective on CMS Energy from $47.00 to $49.00 and gave the stock a “$47.86” rating in a research note on Thursday, July 19th. Argus raised CMS Energy from a “hold” rating to a “buy” rating in a research note on Monday, September 10th. Zacks Investment Research raised CMS Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, October 12th. ValuEngine raised CMS Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, Morgan Stanley upped their price objective on CMS Energy from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. CMS Energy presently has an average rating of “Hold” and an average price target of $51.40.
NYSE CMS opened at $50.14 on Friday. The stock has a market capitalization of $14.06 billion and a PE ratio of 23.11. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.69 and a quick ratio of 0.47. CMS Energy Co. has a twelve month low of $40.48 and a twelve month high of $51.91.
CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, October 25th. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.53 billion. CMS Energy had a return on equity of 14.88% and a net margin of 8.00%. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities research analysts predict that CMS Energy Co. will post 2.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 2nd will be paid a dividend of $0.3575 per share. This represents a $1.43 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Thursday, November 1st. CMS Energy’s payout ratio is presently 65.90%.
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CMS Energy Company Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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