12,118 Shares in CMS Energy Corporation (CMS) Purchased by Pettee Investors Inc.
Pettee Investors Inc. acquired a new stake in shares of CMS Energy Corporation (NYSE:CMS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 12,118 shares of the utilities provider’s stock, valued at approximately $561,000.
A number of other institutional investors and hedge funds have also bought and sold shares of CMS. Wellington Management Group LLP boosted its holdings in CMS Energy Corporation by 286.4% during the 1st quarter. Wellington Management Group LLP now owns 63,049 shares of the utilities provider’s stock valued at $2,821,000 after acquiring an additional 46,732 shares during the period. Thrivent Financial For Lutherans lifted its holdings in shares of CMS Energy Corporation by 11.3% in the 1st quarter. Thrivent Financial For Lutherans now owns 10,830 shares of the utilities provider’s stock worth $485,000 after buying an additional 1,100 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of CMS Energy Corporation by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 654,848 shares of the utilities provider’s stock worth $29,297,000 after buying an additional 13,843 shares during the period. Atria Investments LLC lifted its holdings in shares of CMS Energy Corporation by 46.7% in the 2nd quarter. Atria Investments LLC now owns 19,312 shares of the utilities provider’s stock worth $893,000 after buying an additional 6,150 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of CMS Energy Corporation by 7.2% in the 2nd quarter. Bank of Montreal Can now owns 510,475 shares of the utilities provider’s stock worth $23,610,000 after buying an additional 34,472 shares during the period. Institutional investors own 87.15% of the company’s stock.
CMS has been the subject of several research reports. BMO Capital Markets reiterated a “buy” rating and issued a $48.00 target price on shares of CMS Energy Corporation in a report on Monday, July 31st. KeyCorp reiterated a “buy” rating and issued a $51.00 target price on shares of CMS Energy Corporation in a report on Friday, September 1st. BidaskClub upgraded CMS Energy Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Bank of America Corporation began coverage on CMS Energy Corporation in a report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 target price for the company. Finally, Morgan Stanley began coverage on CMS Energy Corporation in a research note on Monday, July 31st. They set an “equal weight” rating and a $47.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. CMS Energy Corporation currently has a consensus rating of “Buy” and an average target price of $48.90.
In other news, insider Garrick J. Rochow sold 2,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $47.81, for a total value of $95,620.00. Following the transaction, the insider now directly owns 64,307 shares of the company’s stock, valued at $3,074,517.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian F. Rich sold 3,500 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $48.26, for a total value 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 $2,163,737.10. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $312,550 over the last three months. Corporate insiders own 0.65% of the company’s stock.
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Shares of CMS Energy Corporation (CMS) traded up $0.22 during trading hours on Thursday, reaching $49.13. The company had a trading volume of 2,918,844 shares, compared to its average volume of 1,936,579. CMS Energy Corporation has a 12 month low of $38.78 and a 12 month high of $49.11. The firm has a market cap of $13,793.24, a price-to-earnings ratio of 25.08, a P/E/G ratio of 3.48 and a beta of 0.18. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 1.99.
CMS Energy Corporation (NYSE:CMS) last announced its earnings results on Thursday, October 26th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.60 billion. CMS Energy Corporation had a return on equity of 12.30% and a net margin of 8.38%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. equities analysts predict that CMS Energy Corporation will post 2.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 3rd will be issued a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, November 2nd. CMS Energy Corporation’s dividend payout ratio is presently 68.91%.
CMS Energy Corporation Company Profile
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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