CMS Energy Corp. (CMS) Trading Down 0.8%
CMS Energy Corp. (NYSE:CMS)’s share price traded down 0.8% during mid-day trading on Monday . The company traded as low as $43.51 and last traded at $43.53, with a volume of 603,927 shares trading hands. The stock had previously closed at $43.86.
A number of research analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of CMS Energy Corp. in a report on Friday, July 29th. SunTrust Banks Inc. reaffirmed a “neutral” rating on shares of CMS Energy Corp. in a report on Tuesday, August 2nd. Howard Weil started coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They issued a “sector perform” rating and a $46.00 price objective for the company. KeyCorp reaffirmed an “outperform” rating and issued a $47.00 price objective (up previously from $45.00) on shares of CMS Energy Corp. in a report on Saturday, July 2nd. Finally, Zacks Investment Research raised shares of CMS Energy Corp. from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Thursday, July 14th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.75.
The stock has a market capitalization of $11.77 billion and a P/E ratio of 21.62. The company has a 50-day moving average of $44.74 and a 200-day moving average of $42.13.
CMS Energy Corp. (NYSE:CMS) last released its earnings results on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The company earned $1.37 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company posted $0.25 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that CMS Energy Corp. will post $2.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Friday, August 5th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 2.93%.
In other news, SVP Daniel J. Malone sold 3,639 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $40.95, for a total transaction of $149,017.05. Following the completion of the transaction, the senior vice president now owns 149,331 shares of the company’s stock, valued at approximately $6,115,104.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John G. Russell sold 196,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $41.04, for a total value of $8,043,840.00. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. Mutual of America Capital Management LLC raised its stake in shares of CMS Energy Corp. by 1.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 30,895 shares of the company’s stock worth $1,115,000 after buying an additional 310 shares in the last quarter. Morgan Stanley raised its stake in CMS Energy Corp. by 27.4% in the fourth quarter. Morgan Stanley now owns 513,757 shares of the company’s stock worth $18,536,000 after buying an additional 110,405 shares during the period. Principal Financial Group Inc. raised its stake in CMS Energy Corp. by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 396,295 shares of the company’s stock worth $14,298,000 after buying an additional 8,764 shares during the period. Victory Capital Management Inc. raised its stake in CMS Energy Corp. by 24.9% in the fourth quarter. Victory Capital Management Inc. now owns 74,218 shares of the company’s stock worth $2,678,000 after buying an additional 14,792 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in CMS Energy Corp. by 11.4% in the fourth quarter. Advisors Asset Management Inc. now owns 41,920 shares of the company’s stock worth $1,512,000 after buying an additional 4,304 shares during the period.
CMS Energy Corporation (CMS Energy) is an energy company operating primarily in Michigan. The Company operates in three segments, which include Consumers Electric Utility, Consumers Gas Utility and Enterprises (non-utility operations and investments). CMS Energy, through its subsidiaries and equity investments, is engaged primarily in independent power production and owns power generation facilities fueled by natural gas and biomass.
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