Renaissance Technologies LLC boosted its holdings in shares of CMS Energy Co. (NYSE:CMS) by 62.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,912,300 shares of the utilities provider’s stock after acquiring an additional 1,118,600 shares during the period. Renaissance Technologies LLC owned 1.03% of CMS Energy worth $142,703,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Piedmont Investment Advisors LLC bought a new stake in shares of CMS Energy in the second quarter valued at about $156,000. Dupont Capital Management Corp raised its holdings in shares of CMS Energy by 208.9% in the second quarter. Dupont Capital Management Corp now owns 9,833 shares of the utilities provider’s stock valued at $465,000 after acquiring an additional 6,650 shares in the last quarter. Cognios Capital LLC raised its holdings in shares of CMS Energy by 2.1% in the second quarter. Cognios Capital LLC now owns 57,394 shares of the utilities provider’s stock valued at $2,712,000 after acquiring an additional 1,198 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of CMS Energy by 10.3% in the second quarter. Wells Fargo & Company MN now owns 1,869,169 shares of the utilities provider’s stock valued at $88,375,000 after acquiring an additional 174,014 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of CMS Energy in the second quarter valued at about $4,072,000. 92.88% of the stock is owned by hedge funds and other institutional investors.
CMS has been the subject of several recent research reports. ValuEngine upgraded CMS Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded CMS Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, October 12th. Argus upgraded CMS Energy from a “hold” rating to a “buy” rating in a report on Monday, September 10th. KeyCorp restated a “buy” rating and issued a $51.00 price objective on shares of CMS Energy in a report on Thursday, August 16th. Finally, Barclays initiated coverage on CMS Energy in a report on Wednesday, August 15th. They issued an “equal weight” rating and a $51.00 price objective for the company. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.50.
Shares of CMS Energy stock opened at $52.93 on Friday. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 3.66 and a beta of 0.03. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 1.87. CMS Energy Co. has a one year low of $40.48 and a one year high of $53.35.
CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, October 25th. The utilities provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.53 billion. CMS Energy had a net margin of 8.00% and a return on equity of 14.88%. During the same period in the previous year, the company posted $0.62 earnings per share. On average, sell-side analysts anticipate that CMS Energy Co. will post 2.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 2nd were issued a $0.3575 dividend. The ex-dividend date of this dividend was Thursday, November 1st. This represents a $1.43 dividend on an annualized basis and a yield of 2.70%. CMS Energy’s dividend payout ratio is presently 65.90%.
In other CMS Energy news, insider Brandon J. Hofmeister sold 500 shares of the business’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $51.88, for a total value of $25,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian F. Rich sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $49.69, for a total transaction of $198,760.00. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
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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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