Raleigh Capital Management Inc. Makes New Investment in CMS Energy Corporation $CMS

Raleigh Capital Management Inc. bought a new stake in CMS Energy Corporation (NYSE:CMS) in the third quarter, HoldingsChannel.com reports. The firm bought 10,973 shares of the utilities provider’s stock, valued at approximately $692,000.

A number of other institutional investors also recently modified their holdings of the business. Kilter Group LLC acquired a new position in shares of CMS Energy in the second quarter valued at about $26,000. Independence Bank of Kentucky bought a new position in CMS Energy during the third quarter worth about $27,000. Pension & Wealth Management Advisors Inc. acquired a new stake in CMS Energy in the 3rd quarter worth about $30,000. Scarborough Advisors LLC acquired a new stake in CMS Energy in the 1st quarter worth about $31,000. Finally, Trust Co. of Vermont bought a new stake in CMS Energy in the 2nd quarter valued at about $33,000. Institutional investors own 93.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMS shares. Truist Financial decreased their target price on shares of CMS Energy from $81.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. BMO Capital Markets raised their target price on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Monday, October 19th. Wall Street Zen upgraded shares of CMS Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 5th. Morgan Stanley cut their price target on CMS Energy from $77.00 to $73.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company cut their price target on CMS Energy from $79.00 to $73.00 and set an “equal weight” rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, CMS Energy presently has a consensus rating of “Hold” and a consensus target price of $77.35.

CMS Energy Stock Performance

CMS opened at $70.12 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.67 and a current ratio of 0.95. CMS Energy Corporation has a 52-week low of $62.28 and a 52-week high of $80.36. The firm has a market cap of $21.99 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 2.54 and a beta of 0.32. The business’s fifty day moving average is $66.77 and its 200-day moving average is $72.53.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.23 billion. CMS Energy had a return on equity of 12.28% and a net margin of 9.72%. CMS Energy’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Sell-side analysts expect that CMS Energy Corporation will post 3.87 EPS for the current fiscal year.

CMS Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, November 6th. CMS Energy’s dividend payout ratio is presently 68.47%.

CMS Energy Company Profile

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.