Westpac Banking Corp increased its position in CMS Energy Corp. (NYSE:CMS) by 11.0% during the second quarter, Holdings Channel reports. The institutional investor owned 27,037 shares of the company’s stock after buying an additional 2,677 shares during the period. Westpac Banking Corp’s holdings in CMS Energy Corp. were worth $1,109,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Aperio Group LLC boosted its position in CMS Energy Corp. by 7.7% in the first quarter. Aperio Group LLC now owns 125,845 shares of the company’s stock worth $5,341,000 after buying an additional 8,980 shares in the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in CMS Energy Corp. during the first quarter worth approximately $256,000. CIBC World Markets Inc. boosted its position in CMS Energy Corp. by 16.8% in the first quarter. CIBC World Markets Inc. now owns 96,407 shares of the company’s stock worth $4,092,000 after buying an additional 13,877 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in CMS Energy Corp. by 14.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 42,081 shares of the company’s stock worth $1,786,000 after buying an additional 5,340 shares in the last quarter. Finally, Ngam Advisors L.P. boosted its position in CMS Energy Corp. by 6.5% in the first quarter. Ngam Advisors L.P. now owns 57,336 shares of the company’s stock worth $2,433,000 after buying an additional 3,499 shares in the last quarter. 89.09% of the stock is owned by institutional investors and hedge funds.
CMS Energy Corp. (NYSE:CMS) opened at 42.01 on Friday. CMS Energy Corp. has a one year low of $33.84 and a one year high of $46.25. The firm has a 50-day moving average of $42.66 and a 200 day moving average of $42.73. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 21.53 and a beta of 0.12.
CMS Energy Corp. (NYSE:CMS) last issued its earnings results on Thursday, July 28th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.09. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.49 billion. CMS Energy Corp. had a return on equity of 13.34% and a net margin of 8.79%. CMS Energy Corp.’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Equities research analysts predict that CMS Energy Corp. will post $2.02 earnings per share for the current fiscal year.
CMS has been the subject of a number of research reports. KeyCorp reissued an “outperform” rating and issued a $47.00 price target (up previously from $45.00) on shares of CMS Energy Corp. in a research note on Saturday, July 2nd. Zacks Investment Research upgraded shares of CMS Energy Corp. from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Thursday, July 14th. Howard Weil assumed coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They issued a “sector perform” rating and a $46.00 price objective for the company. Scotiabank assumed coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They issued a “sector perform” rating and a $46.00 price objective for the company. Finally, BMO Capital Markets restated a “buy” rating on shares of CMS Energy Corp. in a report on Friday, July 29th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $43.95.
In related news, SVP Catherine M. Reynolds sold 11,032 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $43.59, for a total value of $480,884.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Brian F. Rich sold 2,135 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $43.17, for a total value of $92,167.95. Following the completion of the sale, the senior vice president now owns 49,330 shares in the company, valued at approximately $2,129,576.10. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.
About CMS Energy Corp.
CMS Energy Corporation (CMS Energy) is an energy company operating primarily in Michigan. The Company operates in three segments, which include Consumers Electric Utility, Consumers Gas Utility and Enterprises (non-utility operations and investments). CMS Energy, through its subsidiaries and equity investments, is engaged primarily in independent power production and owns power generation facilities fueled by natural gas and biomass.
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