Principal Financial Group Inc. lessened its position in CMS Energy Co. (NYSE:CMS – Get Rating) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 466,198 shares of the utilities provider’s stock after selling 124,271 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of CMS Energy worth $30,326,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CMS. Marshall Wace LLP purchased a new stake in shares of CMS Energy in the 1st quarter valued at $137,000. Morgan Stanley raised its holdings in shares of CMS Energy by 278.0% in the 2nd quarter. Morgan Stanley now owns 1,376,040 shares of the utilities provider’s stock valued at $81,296,000 after buying an additional 1,011,975 shares during the period. Advisor Group Holdings Inc. increased its holdings in CMS Energy by 7.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 39,378 shares of the utilities provider’s stock worth $2,353,000 after purchasing an additional 2,680 shares during the period. Mackenzie Financial Corp increased its holdings in CMS Energy by 35.5% during the 3rd quarter. Mackenzie Financial Corp now owns 20,069 shares of the utilities provider’s stock worth $1,199,000 after purchasing an additional 5,253 shares during the period. Finally, First Horizon Advisors Inc. purchased a new stake in CMS Energy during the 3rd quarter worth about $53,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.
In other CMS Energy news, SVP Dhenuvakonda Rao Venkat sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $69.20, for a total transaction of $69,200.00. Following the completion of the sale, the senior vice president now directly owns 35,241 shares of the company’s stock, valued at approximately $2,438,677.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Catherine A. Hendrian sold 6,521 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $66.09, for a total value of $430,972.89. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.
CMS Energy (NYSE:CMS – Get Rating) last announced its earnings results on Tuesday, May 3rd. The utilities provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.08. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.08 billion. CMS Energy had a return on equity of 11.83% and a net margin of 17.65%. The business’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. As a group, analysts predict that CMS Energy Co. will post 2.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Friday, May 6th will be given a $0.46 dividend. The ex-dividend date is Thursday, May 5th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.65%. CMS Energy’s dividend payout ratio (DPR) is presently 39.48%.
Several equities research analysts have weighed in on the company. BMO Capital Markets upped their price target on CMS Energy from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, March 8th. Evercore ISI restated a “hold” rating and set a $67.00 price target on shares of CMS Energy in a report on Friday, February 4th. StockNews.com assumed coverage on CMS Energy in a report on Thursday, March 31st. They set a “hold” rating on the stock. Argus upped their price target on CMS Energy from $70.00 to $78.00 in a report on Friday, April 1st. Finally, Morgan Stanley increased their price objective on CMS Energy from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, CMS Energy presently has an average rating of “Hold” and an average price target of $71.33.
About CMS Energy (Get Rating)
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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