Vanguard Group Inc. Has $1.35 Billion Holdings in CMS Energy Corporation (CMS)
Vanguard Group Inc. raised its position in CMS Energy Corporation (NYSE:CMS) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,277,644 shares of the utilities provider’s stock after purchasing an additional 764,989 shares during the quarter. Vanguard Group Inc. owned about 10.40% of CMS Energy Corporation worth $1,354,091,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of CMS Energy Corporation by 18.0% in the first quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 370 shares during the period. Brookfield Asset Management Inc. acquired a new stake in shares of CMS Energy Corporation in the first quarter valued at approximately $159,000. Meeder Asset Management Inc. acquired a new stake in shares of CMS Energy Corporation in the second quarter valued at approximately $185,000. Laurion Capital Management LP acquired a new stake in shares of CMS Energy Corporation in the first quarter valued at approximately $201,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of CMS Energy Corporation in the second quarter valued at approximately $205,000. Institutional investors own 87.37% of the company’s stock.
In related news, SVP Brian F. Rich sold 3,500 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 44,835 shares of the company’s stock, valued at $2,163,737.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jon E. Barfield sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $46.81, for a total transaction of $296,588.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,836 shares of company stock valued at $561,118. 0.65% of the stock is currently owned by insiders.
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CMS Energy Corporation (NYSE CMS) opened at 46.47 on Monday. CMS Energy Corporation has a 1-year low of $38.78 and a 1-year high of $49.11. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of 23.47 and a beta of 0.17. The company’s 50 day moving average is $47.93 and its 200-day moving average is $46.41.
CMS Energy Corporation (NYSE:CMS) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) 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 company 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 company posted $0.45 earnings per share. CMS Energy Corporation’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that CMS Energy Corporation will post $2.17 EPS for the current fiscal year.
The business also recently announced 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 2.86%. CMS Energy Corporation’s payout ratio is 66.83%.
CMS has been the topic of several analyst reports. BidaskClub lowered shares of CMS Energy Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Royal Bank Of Canada restated a “hold” rating and issued a $46.00 price target on shares of CMS Energy Corporation in a research note on Monday, September 11th. Morgan Stanley set a $49.00 price target on shares of CMS Energy Corporation and gave the company a “hold” rating in a research note on Thursday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a research note on Monday, July 31st. Finally, Guggenheim initiated coverage on shares of CMS Energy Corporation in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $48.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $48.20.
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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