CMS Energy Co. (NYSE:CMS) Announces $0.38 Quarterly Dividend

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CMS Energy Co. (NYSE:CMS) announced a quarterly dividend on Thursday, October 17th, RTT News reports. Investors of record on Friday, November 1st will be given a dividend of 0.3825 per share by the utilities provider on Wednesday, November 27th. This represents a $1.53 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, October 31st.

NYSE:CMS opened at $62.51 on Tuesday. The stock has a market cap of $18.07 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.98 and a beta of 0.09. The firm’s fifty day simple moving average is $63.43 and its 200 day simple moving average is $59.40. CMS Energy has a twelve month low of $47.63 and a twelve month high of $65.31. The company has a quick ratio of 0.74, a current ratio of 1.06 and a debt-to-equity ratio of 2.43.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, October 24th. The utilities provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.65 billion. CMS Energy had a net margin of 9.03% and a return on equity of 12.80%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. On average, analysts expect that CMS Energy will post 2.49 EPS for the current fiscal year.

In other news, Director John G. Russell sold 33,500 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $63.02, for a total transaction of $2,111,170.00. Following the sale, the director now owns 223,711 shares in the company, valued at approximately $14,098,267.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John G. Russell sold 5,600 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $57.78, for a total transaction of $323,568.00. Following the sale, the director now owns 290,711 shares in the company, valued at approximately $16,797,281.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,300 shares of company stock worth $5,432,186. Company insiders own 0.52% of the company’s stock.

Several analysts recently weighed in on CMS shares. Argus set a $66.00 price target on shares of CMS Energy and gave the company a “buy” rating in a report on Monday, August 12th. ValuEngine cut shares of CMS Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group lifted their price target on shares of CMS Energy from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Zacks Investment Research cut shares of CMS Energy from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of CMS Energy from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. CMS Energy currently has an average rating of “Hold” and an average target price of $61.21.

About CMS Energy

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.

Further Reading: Equity Income

Dividend History for CMS Energy (NYSE:CMS)

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