CMS Energy (CMS) to Issue Quarterly Dividend of $0.36 on May 31st
CMS Energy (NYSE:CMS) announced a quarterly dividend on Thursday, April 19th, RTT News reports. Shareholders of record on Friday, May 4th will be given a dividend of 0.3575 per share by the utilities provider on Thursday, May 31st. This represents a $1.43 annualized dividend and a yield of 3.03%. The ex-dividend date is Thursday, May 3rd.
CMS Energy has increased its dividend by an average of 7.2% per year over the last three years and has raised its dividend every year for the last 6 years. CMS Energy has a dividend payout ratio of 61.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect CMS Energy to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 53.2%.
NYSE:CMS opened at $47.18 on Friday. The company has a market cap of $13,115.60, a price-to-earnings ratio of 21.74, a P/E/G ratio of 3.13 and a beta of 0.07. CMS Energy has a twelve month low of $40.48 and a twelve month high of $50.85. The company has a current ratio of 1.85, a quick ratio of 0.65 and a debt-to-equity ratio of 2.24.
In other CMS Energy news, SVP Catherine M. Reynolds sold 8,310 shares of CMS Energy stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.40, for a total transaction of $360,654.00. Following the completion of the sale, the senior vice president now directly owns 126,810 shares in the company, valued at approximately $5,503,554. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.
Several analysts have weighed in on CMS shares. Bank of America reissued a “buy” rating and set a $49.00 target price (up previously from $48.00) on shares of CMS Energy in a research report on Monday, February 26th. SunTrust Banks set a $44.00 target price on shares of CMS Energy and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Zacks Investment Research raised shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Guggenheim restated a “hold” rating and set a $50.00 price objective on shares of CMS Energy in a research note on Wednesday, January 3rd. Finally, Hilliard Lyons upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, February 15th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $48.08.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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