Toronto Dominion Bank raised its stake in CMS Energy Co. (NYSE:CMS - Free Report) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,223 shares of the utilities provider's stock after buying an additional 27,562 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of CMS Energy worth $12,659,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quest Partners LLC increased its position in CMS Energy by 130,804.3% during the second quarter. Quest Partners LLC now owns 30,108 shares of the utilities provider's stock worth $1,792,000 after purchasing an additional 30,085 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of CMS Energy by 6.2% in the 2nd quarter. Cetera Investment Advisers now owns 27,850 shares of the utilities provider's stock valued at $1,658,000 after buying an additional 1,631 shares during the period. Mizuho Securities USA LLC increased its holdings in shares of CMS Energy by 992.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 251,525 shares of the utilities provider's stock worth $18,075,000 after buying an additional 228,501 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of CMS Energy by 10.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider's stock valued at $537,503,000 after buying an additional 719,093 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in CMS Energy by 14.1% in the second quarter. Envestnet Asset Management Inc. now owns 884,878 shares of the utilities provider's stock valued at $52,677,000 after acquiring an additional 109,424 shares during the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.
Insider Activity at CMS Energy
In related news, CAO Scott B. Mcintosh sold 936 shares of the company's 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 completion of the transaction, the chief accounting officer now directly owns 24,417 shares of the company's stock, valued at $1,672,564.50. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the 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 transaction, the senior vice president now owns 64,771 shares in the company, valued at $4,415,439.07. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities research analysts have issued reports on CMS shares. BMO Capital Markets cut their target price 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. Jefferies Financial Group started coverage on shares of CMS Energy in a report on Tuesday, November 5th. They issued a "buy" rating and a $76.00 price objective on the stock. KeyCorp increased their target price on shares of CMS Energy from $73.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. Scotiabank boosted their price target on shares of CMS Energy from $75.00 to $77.00 and gave the company a "sector outperform" rating in a research note on Thursday. Finally, Bank of America increased their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, CMS Energy has a consensus rating of "Moderate Buy" and an average target price of $70.36.
View Our Latest Analysis on CMS Energy
CMS Energy Stock Up 0.4 %
NYSE CMS traded up $0.29 during trading hours on Friday, hitting $67.32. 1,946,568 shares of the company were exchanged, compared to its average volume of 2,275,587. The company has a 50 day moving average of $69.13 and a two-hundred day moving average of $66.13. 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 firm has a market cap of $20.11 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.66 and a beta of 0.41. CMS Energy Co. has a 52-week low of $55.10 and a 52-week high of $72.40.
CMS Energy (NYSE:CMS - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping 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 firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. The business's quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current year.
CMS Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.06%. This is an increase from CMS Energy's previous quarterly dividend of $0.51. CMS Energy's payout ratio is presently 58.86%.
CMS Energy 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.
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