CMS Energy Corp. (CMS) Trading Down 2.3%
CMS Energy Corp. (NYSE:CMS)’s share price traded down 2.3% during trading on Friday . The company traded as low as $41.90 and last traded at $41.96, with a volume of 1,752,708 shares changing hands. The stock had previously closed at $42.96.
A number of equities analysts have recently commented on the stock. KeyCorp reaffirmed an “outperform” rating and issued a $47.00 target price (up from $45.00) on shares of CMS Energy Corp. in a report on Saturday, July 2nd. SunTrust Banks Inc. reaffirmed a “neutral” rating on shares of CMS Energy Corp. in a report on Tuesday, August 2nd. Zacks Investment Research raised shares of CMS Energy Corp. from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Thursday, July 14th. BMO Capital Markets reaffirmed a “buy” rating on shares of CMS Energy Corp. in a report on Friday, July 29th. Finally, Scotiabank assumed coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They issued a “sector perform” rating and a $46.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. CMS Energy Corp. currently has an average rating of “Hold” and an average target price of $43.75.
The firm has a 50-day moving average price of $44.18 and a 200-day moving average price of $42.29. The company has a market cap of $11.71 billion and a price-to-earnings ratio of 21.50.
CMS Energy Corp. (NYSE:CMS) last released its earnings results on Thursday, July 28th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09. During the same quarter last year, the company posted $0.25 earnings per share. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.49 billion. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts predict that CMS Energy Corp. will post $2.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Friday, August 5th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, August 3rd.
In related news, SVP Brian F. Rich sold 2,135 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $43.17, for a total transaction of $92,167.95. Following the transaction, the senior vice president now directly owns 49,330 shares in the company, valued at $2,129,576.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Catherine M. Reynolds sold 11,032 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $43.59, for a total value of $480,884.88. The disclosure for this sale can be found here.
An institutional investor recently raised its position in CMS Energy Corp. stock. Principal Financial Group Inc. boosted its stake in CMS Energy Corp. (NYSE:CMS) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 396,295 shares of the company’s stock after buying an additional 8,764 shares during the period. Principal Financial Group Inc. owned 0.14% of CMS Energy Corp. worth $14,298,000 as of its most recent SEC filing.
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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