Riverhead Capital Management LLC Has $1.90 Million Position in CMS Energy Corporation (CMS)
Riverhead Capital Management LLC increased its stake in shares of CMS Energy Corporation (NYSE:CMS) by 177.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,128 shares of the utilities provider’s stock after buying an additional 26,323 shares during the quarter. Riverhead Capital Management LLC’s holdings in CMS Energy Corporation were worth $1,902,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CMS. Van ECK Associates Corp lifted its position in shares of CMS Energy Corporation by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock worth $108,000 after buying an additional 370 shares during the period. Brookfield Asset Management Inc. bought a new position in shares of CMS Energy Corporation during the 1st quarter worth approximately $159,000. Meeder Asset Management Inc. bought a new position in shares of CMS Energy Corporation during the 2nd quarter worth approximately $185,000. Laurion Capital Management LP bought a new position in shares of CMS Energy Corporation during the 1st quarter worth approximately $201,000. Finally, Trust Co. of Toledo NA OH bought a new position in shares of CMS Energy Corporation during the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 87.45% of the company’s stock.
Several equities analysts recently commented on CMS shares. BidaskClub downgraded CMS Energy Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Royal Bank Of Canada restated a “hold” rating and set a $46.00 target price on shares of CMS Energy Corporation in a research report on Monday. Morgan Stanley set a $49.00 price target on CMS Energy Corporation and gave the company a “hold” rating in a report on Thursday, August 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $48.00 price target on shares of CMS Energy Corporation in a report on Monday, July 31st. Finally, Guggenheim started coverage on CMS Energy Corporation in a report on Tuesday, September 5th. They set a “neutral” rating and a $48.00 price target for the company. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. CMS Energy Corporation presently has a consensus rating of “Buy” and a consensus target price of $48.20.
Shares of CMS Energy Corporation (NYSE CMS) opened at 47.90 on Friday. CMS Energy Corporation has a 12-month low of $38.78 and a 12-month high of $49.11. The firm has a market capitalization of $13.49 billion, a PE ratio of 24.19 and a beta of 0.17. The company’s 50-day moving average price is $47.83 and its 200-day moving average price is $46.31.
CMS Energy Corporation (NYSE:CMS) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.08). CMS Energy Corporation had a return on equity of 12.98% and a net margin of 8.52%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Analysts anticipate that CMS Energy Corporation will post $2.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Friday, August 4th were given a dividend of $0.3325 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.78%. CMS Energy Corporation’s dividend payout ratio (DPR) is presently 66.83%.
In related news, Director Jon E. Barfield sold 6,336 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total value of $296,588.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brian F. Rich sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $48.26, for a total transaction of $168,910.00. Following the completion of the transaction, the senior vice president now directly owns 44,835 shares in the company, valued at approximately $2,163,737.10. The disclosure for this sale can be found here. Insiders have sold a total of 11,836 shares of company stock worth $561,118 in the last three months. Insiders own 0.65% of the company’s stock.
About CMS Energy Corporation
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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