CMS Energy Corporation (NYSE:CMS) – Equities research analysts at SunTrust Banks upped their Q4 2017 earnings per share estimates for CMS Energy Corporation in a report released on Friday. SunTrust Banks analyst A. Agha now anticipates that the utilities provider will post earnings per share of $0.36 for the quarter, up from their prior estimate of $0.30. SunTrust Banks also issued estimates for CMS Energy Corporation’s Q2 2018 earnings at $0.35 EPS, Q1 2019 earnings at $0.81 EPS and Q2 2019 earnings at $0.38 EPS.
CMS Energy Corporation (NYSE:CMS) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.08. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 13.00%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis.
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Several other brokerages have also issued reports on CMS. BidaskClub raised shares of CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Credit Suisse Group raised shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $46.00 to $50.00 in a report on Monday, July 24th. Morgan Stanley assumed coverage on shares of CMS Energy Corporation in a report on Monday. They issued an “equal weight” rating and a $47.00 price target on the stock. BMO Capital Markets reissued a “buy” rating and issued a $48.00 price target on shares of CMS Energy Corporation in a report on Monday. Finally, Deutsche Bank AG boosted their price target on shares of CMS Energy Corporation from $47.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $47.50.
CMS Energy Corporation (NYSE CMS) traded up 0.42% on Monday, hitting $46.50. 724,223 shares of the stock traded hands. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 23.48 and a beta of 0.16. The stock has a 50-day moving average of $46.65 and a 200-day moving average of $45.19. CMS Energy Corporation has a 12-month low of $38.78 and a 12-month high of $48.37.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Friday, August 4th will be issued a $0.3325 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, August 2nd. CMS Energy Corporation’s payout ratio is 66.83%.
In other news, insider Daniel J. Malone sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $47.42, for a total value of $474,200.00. Following the sale, the insider now owns 148,622 shares of the company’s stock, valued at approximately $7,047,655.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dhenuvakonda Rao Venkat sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.50, for a total transaction of $91,000.00. Following the completion of the sale, the insider now directly owns 30,022 shares in the company, valued at approximately $1,366,001. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,246 shares of company stock worth $4,114,711. 0.65% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CMS. Van ECK Associates Corp increased its position in shares of CMS Energy Corporation by 18.0% in the first quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock valued at $108,000 after buying an additional 370 shares during the period. Quadrant Capital Group LLC increased its position in shares of CMS Energy Corporation by 5.7% in the first quarter. Quadrant Capital Group LLC now owns 2,701 shares of the utilities provider’s stock valued at $118,000 after buying an additional 145 shares during the period. Brookfield Asset Management Inc. bought a new position in shares of CMS Energy Corporation during the first quarter valued at about $159,000. Meeder Asset Management Inc. bought a new position in shares of CMS Energy Corporation during the second quarter valued at about $185,000. Finally, Parametrica Management Ltd bought a new position in shares of CMS Energy Corporation during the first quarter valued at about $200,000. Institutional investors and hedge funds own 87.12% of the company’s stock.
About CMS Energy Corporation
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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