Duff & Phelps Investment Management Co. lessened its position in CMS Energy Co. (NYSE:CMS) by 7.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,296,477 shares of the utilities provider’s stock after selling 196,785 shares during the quarter. CMS Energy makes up 1.9% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 3rd largest holding. Duff & Phelps Investment Management Co. owned approximately 0.81% of CMS Energy worth $132,989,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Blue Sky Asset Management LLC acquired a new position in shares of CMS Energy during the 1st quarter worth about $38,000. Advisory Services Network LLC acquired a new position in shares of CMS Energy during the 2nd quarter worth about $43,000. Berman Capital Advisors LLC boosted its position in shares of CMS Energy by 145.5% during the 1st quarter. Berman Capital Advisors LLC now owns 837 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 496 shares in the last quarter. Coastal Investment Advisors Inc. boosted its position in shares of CMS Energy by 51.9% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,015 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 347 shares in the last quarter. Finally, Bremer Bank National Association acquired a new position in shares of CMS Energy during the 1st quarter worth about $61,000. Hedge funds and other institutional investors own 92.00% of the company’s stock.
In other CMS Energy news, insider Catherine A. Hendrian sold 1,753 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $56.96, for a total transaction of $99,850.88. Following the completion of the sale, the insider now directly owns 37,567 shares of the company’s stock, valued at approximately $2,139,816.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John G. Russell sold 33,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $60.04, for a total value of $2,011,340.00. Following the sale, the director now directly owns 257,211 shares of the company’s stock, valued at $15,442,948.44. The disclosure for this sale can be found here. Insiders have sold a total of 50,453 shares of company stock valued at $2,995,335 over the last ninety days. 0.52% of the stock is owned by insiders.
CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.11). CMS Energy had a net margin of 8.41% and a return on equity of 12.13%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts predict that CMS Energy Co. will post 2.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be given a dividend of $0.3825 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.53 dividend on an annualized basis and a yield of 2.50%. CMS Energy’s payout ratio is 65.67%.
A number of analysts recently issued reports on the company. KeyCorp assumed coverage on CMS Energy in a research report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Barclays reissued a “hold” rating and issued a $61.00 target price on shares of CMS Energy in a research report on Thursday, June 20th. Zacks Investment Research raised CMS Energy from a “sell” rating to a “hold” rating and set a $62.00 target price for the company in a research report on Tuesday, July 23rd. Argus set a $66.00 target price on CMS Energy and gave the company a “buy” rating in a research report on Monday. Finally, Morgan Stanley decreased their target price on CMS Energy from $60.00 to $59.00 and set an “equal weight” rating for the company in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. CMS Energy currently has an average rating of “Hold” and a consensus price target of $56.85.
CMS Energy Company Profile
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.
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