BNP Paribas Arbitrage SA cut its holdings in CMS Energy Co. (NYSE:CMS) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,338 shares of the utilities provider’s stock after selling 24,967 shares during the period. BNP Paribas Arbitrage SA’s holdings in CMS Energy were worth $7,406,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc raised its stake in CMS Energy by 2.2% in the third quarter. Vanguard Group Inc now owns 33,531,947 shares of the utilities provider’s stock valued at $1,643,065,000 after buying an additional 723,850 shares in the last quarter. BlackRock Inc. raised its stake in CMS Energy by 4.3% in the fourth quarter. BlackRock Inc. now owns 26,150,756 shares of the utilities provider’s stock valued at $1,298,384,000 after buying an additional 1,069,422 shares in the last quarter. JPMorgan Chase & Co. raised its stake in CMS Energy by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 15,234,196 shares of the utilities provider’s stock valued at $746,475,000 after buying an additional 112,508 shares in the last quarter. Geode Capital Management LLC raised its stake in CMS Energy by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 3,737,438 shares of the utilities provider’s stock valued at $185,237,000 after buying an additional 253,498 shares in the last quarter. Finally, Northern Trust Corp raised its stake in CMS Energy by 7.8% in the fourth quarter. Northern Trust Corp now owns 3,617,524 shares of the utilities provider’s stock valued at $179,611,000 after buying an additional 262,262 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.
In related news, VP Glenn P. Barba sold 8,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $54.95, for a total value of $467,075.00. Following the transaction, the vice president now owns 28,555 shares in the company, valued at approximately $1,569,097.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John G. Russell sold 16,800 shares of CMS Energy stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $55.35, for a total value of $929,880.00. Following the completion of the sale, the director now directly owns 299,196 shares in the company, valued at approximately $16,560,498.60. The disclosure for this sale can be found here. Insiders sold a total of 31,503 shares of company stock worth $1,735,825 in the last 90 days. 0.52% of the stock is currently owned by insiders.
A number of research firms have weighed in on CMS. Zacks Investment Research upgraded CMS Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Morgan Stanley lifted their target price on CMS Energy from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Credit Suisse Group set a $58.00 target price on CMS Energy and gave the stock a “buy” rating in a research report on Monday, April 22nd. Bank of America upgraded CMS Energy from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Thursday, April 11th. Finally, SunTrust Banks reiterated a “hold” rating and set a $56.00 target price on shares of CMS Energy in a research report on Monday, February 25th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $55.31.
CMS stock traded up $0.35 during trading on Wednesday, hitting $56.70. The company had a trading volume of 1,561,600 shares, compared to its average volume of 2,218,662. The stock has a market capitalization of $15.98 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 3.55 and a beta of 0.18. CMS Energy Co. has a 1-year low of $42.52 and a 1-year high of $57.09. The company has a quick ratio of 0.92, a current ratio of 1.13 and a debt-to-equity ratio of 2.29.
CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.96 billion. CMS Energy had a net margin of 9.01% and a return on equity of 13.16%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. Analysts expect that CMS Energy Co. will post 2.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be given a $0.3825 dividend. This represents a $1.53 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, May 2nd. CMS Energy’s dividend payout ratio (DPR) is presently 65.67%.
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About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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