New York State Common Retirement Fund boosted its position in CMS Energy Co. (NYSE:CMS) by 1.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 592,900 shares of the utilities provider’s stock after purchasing an additional 9,000 shares during the period. New York State Common Retirement Fund owned about 0.21% of CMS Energy worth $27,463,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of CMS. Archford Capital Strategies LLC boosted its stake in CMS Energy by 62.0% in the second quarter. Archford Capital Strategies LLC now owns 1,145 shares of the utilities provider’s stock valued at $122,000 after acquiring an additional 438 shares during the last quarter. Colony Group LLC purchased a new position in CMS Energy in the second quarter valued at about $217,000. BlueMountain Capital Management LLC purchased a new position in CMS Energy in the second quarter valued at about $217,000. Dana Investment Advisors Inc. boosted its stake in CMS Energy by 5.4% in the second quarter. Dana Investment Advisors Inc. now owns 4,849 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 249 shares during the last quarter. Finally, Evercore Wealth Management LLC boosted its stake in CMS Energy by 223.5% in the second quarter. Evercore Wealth Management LLC now owns 4,866 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 3,362 shares during the last quarter. 87.15% of the stock is owned by institutional investors and hedge funds.
CMS Energy Co. (NYSE CMS) traded down $0.35 during midday trading on Tuesday, reaching $46.95. 1,689,327 shares of the company’s stock traded hands, compared to its average volume of 1,560,950. The stock has a market cap of $13,339.20, a PE ratio of 24.33, a PEG ratio of 3.37 and a beta of 0.19. CMS Energy Co. has a fifty-two week low of $41.12 and a fifty-two week high of $50.85. The company has a quick ratio of 0.59, a current ratio of 0.94 and a debt-to-equity ratio of 1.99.
CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.07. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.60 billion. CMS Energy had a net margin of 8.38% and a return on equity of 12.30%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. analysts forecast that CMS Energy Co. will post 2.17 EPS for the current fiscal year.
In related news, insider David G. Mengebier sold 2,500 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $49.48, for a total transaction of $123,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $48.02, for a total transaction of $48,020.00. Following the transaction, the insider now directly owns 28,176 shares in the company, valued at approximately $1,353,011.52. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on CMS shares. Bank of America started coverage on shares of CMS Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $52.00 target price on the stock. KeyCorp reiterated a “buy” rating and issued a $51.00 target price on shares of CMS Energy in a research note on Friday, October 20th. Morgan Stanley upped their price target on shares of CMS Energy from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. SunTrust Banks restated a “hold” rating and set a $46.00 price target on shares of CMS Energy in a research note on Tuesday, December 26th. Finally, Zacks Investment Research upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $49.05.
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CMS Energy Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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