Contravisory Investment Management Inc. bought a new position in CMS Energy Co. (NYSE:CMS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 122,258 shares of the utilities provider's stock, valued at approximately $8,148,000. CMS Energy makes up approximately 1.7% of Contravisory Investment Management Inc.'s investment portfolio, making the stock its 27th largest holding.
Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in CMS Energy by 10.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider's stock valued at $537,503,000 after purchasing an additional 719,093 shares during the period. Geode Capital Management LLC raised its stake in CMS Energy by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,509,770 shares of the utilities provider's stock valued at $528,713,000 after buying an additional 105,062 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of CMS Energy by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,842 shares of the utilities provider's stock valued at $152,267,000 after buying an additional 18,403 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CMS Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,822,389 shares of the utilities provider's stock worth $128,715,000 after buying an additional 25,196 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CMS Energy by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,281,504 shares of the utilities provider's stock worth $76,292,000 after acquiring an additional 233,633 shares during the period. Hedge funds and other institutional investors own 93.57% of the company's stock.
Insider Transactions at CMS Energy
In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the sale, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John G. Russell sold 28,750 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $65.85, for a total transaction of $1,893,187.50. Following the transaction, the director now owns 144,059 shares of the company's stock, valued at $9,486,285.15. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,686 shares of company stock valued at $2,228,084. 0.53% of the stock is currently owned by insiders.
CMS Energy Price Performance
NYSE CMS traded up $1.38 during trading hours on Thursday, reaching $67.99. The company's stock had a trading volume of 1,962,887 shares, compared to its average volume of 1,631,341. CMS Energy Co. has a 1 year low of $55.10 and a 1 year high of $72.40. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.41 and a beta of 0.42. The firm's 50-day moving average price is $67.41 and its 200-day moving average price is $67.09.
CMS Energy (NYSE:CMS - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, equities research analysts predict that CMS Energy Co. will post 3.33 EPS for the current fiscal year.
CMS Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.515 per share. This is a positive change from CMS Energy's previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.03%. CMS Energy's dividend payout ratio (DPR) is presently 58.86%.
Analyst Ratings Changes
A number of research analysts have weighed in on CMS shares. Morgan Stanley lowered their target price on CMS Energy from $69.00 to $67.00 and set an "equal weight" rating on the stock in a report on Friday, November 22nd. Barclays raised their price objective on shares of CMS Energy from $65.00 to $68.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their target price on shares of CMS Energy from $70.00 to $77.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of CMS Energy in a research note on Tuesday, November 5th. They set a "buy" rating and a $76.00 price target on the stock. Finally, BMO Capital Markets reduced their price objective on CMS Energy from $77.00 to $76.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.36.
Get Our Latest Analysis on CMS Energy
About CMS Energy
(
Free Report)
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.
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