Lazard Asset Management LLC boosted its position in CMS Energy Co. (NYSE:CMS – Free Report) by 48,203.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,719 shares of the utilities provider’s stock after purchasing an additional 50,614 shares during the quarter. Lazard Asset Management LLC’s holdings in CMS Energy were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of CMS. Raymond James Financial Services Advisors Inc. lifted its stake in CMS Energy by 68.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 26,034 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of CMS Energy by 80.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,868 shares of the utilities provider’s stock valued at $108,000 after buying an additional 835 shares in the last quarter. Quent Capital LLC raised its position in shares of CMS Energy by 63.8% during the 4th quarter. Quent Capital LLC now owns 829 shares of the utilities provider’s stock valued at $48,000 after buying an additional 323 shares in the last quarter. Essex Savings Bank purchased a new stake in shares of CMS Energy during the 4th quarter valued at $207,000. Finally, Trust Point Inc. purchased a new stake in shares of CMS Energy during the 4th quarter valued at $651,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.
CMS Energy Trading Up 1.1 %
Shares of CMS opened at $63.66 on Tuesday. CMS Energy Co. has a 1-year low of $49.87 and a 1-year high of $64.28. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.50 and a beta of 0.38. The firm’s 50-day moving average price is $60.68 and its 200-day moving average price is $59.48. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.
CMS Energy (NYSE:CMS – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. CMS Energy’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. Sell-side analysts anticipate that CMS Energy Co. will post 3.33 EPS for the current year.
CMS Energy Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be paid a $0.51 dividend. The ex-dividend date is Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.20%. CMS Energy’s dividend payout ratio is presently 62.80%.
Analyst Ratings Changes
Several research firms have recently weighed in on CMS. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday. Guggenheim raised their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank lowered their price objective on shares of CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. Barclays raised their price objective on shares of CMS Energy from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Finally, BMO Capital Markets increased their target price on shares of CMS Energy from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.00.
View Our Latest Analysis on CMS
Insider Transactions at CMS Energy
In other news, SVP Brandon J. Hofmeister sold 1,667 shares of CMS Energy stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now directly owns 68,330 shares in the company, valued at $4,098,433.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Brandon J. Hofmeister sold 1,667 shares of CMS Energy stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now directly owns 68,330 shares in the company, valued at $4,098,433.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jon E. Barfield sold 2,360 shares of CMS Energy stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.79, for a total transaction of $143,464.40. Following the completion of the sale, the director now owns 14,556 shares of the company’s stock, valued at $884,859.24. The disclosure for this sale can be found here. Insiders sold 6,027 shares of company stock worth $365,651 over the last three months. 0.40% of the stock is currently owned by company insiders.
CMS Energy Profile
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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