Principal Financial Group Inc. boosted its position in shares of CMS Energy Co. (NYSE:CMS - Free Report) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 408,331 shares of the utilities provider's stock after acquiring an additional 28,695 shares during the period. Principal Financial Group Inc. owned 0.14% of CMS Energy worth $28,840,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMS. Massachusetts Financial Services Co. MA grew its stake in CMS Energy by 101.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider's stock valued at $410,223,000 after purchasing an additional 3,473,977 shares during the last quarter. Raymond James & Associates boosted its position in CMS Energy by 310.2% in the third quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider's stock valued at $79,519,000 after buying an additional 851,364 shares during the last quarter. iA Global Asset Management Inc. increased its holdings in CMS Energy by 105.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider's stock worth $92,623,000 after buying an additional 800,344 shares during the period. National Bank of Canada FI raised its position in CMS Energy by 404.8% during the 3rd quarter. National Bank of Canada FI now owns 892,734 shares of the utilities provider's stock worth $63,053,000 after buying an additional 715,891 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in CMS Energy by 552.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 566,025 shares of the utilities provider's stock valued at $39,978,000 after acquiring an additional 479,336 shares during the period. 93.57% of the stock is currently owned by hedge funds and other institutional investors.
CMS Energy Trading Up 0.2 %
Shares of CMS Energy stock traded up $0.15 during mid-day trading on Wednesday, hitting $66.82. 800,714 shares of the stock were exchanged, compared to its average volume of 2,283,525. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.41. The company has a 50-day simple moving average of $68.68 and a 200 day simple moving average of $66.40. CMS Energy Co. has a twelve month low of $55.10 and a twelve month high of $72.40.
CMS Energy (NYSE:CMS - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.06. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business earned $0.61 EPS. CMS Energy's revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts forecast that CMS Energy Co. will post 3.33 EPS for the current year.
CMS Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.515 per share. The ex-dividend date was Wednesday, November 13th. This is a positive change from CMS Energy's previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 3.08%. CMS Energy's dividend payout ratio is currently 58.86%.
Insider Buying and Selling at CMS Energy
In related news, CAO Scott B. Mcintosh sold 936 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $68.50, for a total value of $64,116.00. Following the transaction, the chief accounting officer now owns 24,417 shares in the company, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brandon J. Hofmeister sold 2,000 shares of CMS Energy stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the completion of the sale, the senior vice president now owns 64,771 shares of the company's stock, valued at $4,415,439.07. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,686 shares of company stock valued at $2,228,084 in the last three months. 0.40% of the stock is currently owned by company insiders.
Analyst Ratings Changes
CMS has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on CMS Energy from $77.00 to $76.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Scotiabank raised their price target on shares of CMS Energy from $75.00 to $77.00 and gave the stock a "sector outperform" rating in a research note on Thursday, December 12th. KeyCorp upped their price objective on CMS Energy from $73.00 to $76.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Morgan Stanley cut their target price on CMS Energy from $69.00 to $67.00 and set an "equal weight" rating for the company in a research note on Friday, November 22nd. Finally, Barclays upped their price target on CMS Energy from $65.00 to $68.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.36.
Check Out Our Latest Stock Analysis on CMS Energy
CMS Energy Company Profile
(
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.
Featured Articles
Before you consider CMS Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CMS Energy wasn't on the list.
While CMS Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
