Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stake in CMS Energy Co. (CMS)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of CMS Energy Co. (NYSE:CMS) by 7.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 16,568 shares of the utilities provider’s stock after acquiring an additional 1,111 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CMS Energy were worth $920,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reilly Financial Advisors LLC bought a new position in shares of CMS Energy during the 4th quarter valued at approximately $25,000. Clean Yield Group bought a new stake in CMS Energy in the fourth quarter worth $27,000. Cranbrook Wealth Management LLC bought a new stake in CMS Energy in the fourth quarter worth $30,000. Blue Sky Asset Management LLC bought a new stake in CMS Energy in the first quarter worth $38,000. Finally, Pinnacle Bank bought a new stake in CMS Energy in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.
A number of brokerages recently issued reports on CMS. Morgan Stanley raised their price target on CMS Energy from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Zacks Investment Research downgraded CMS Energy from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. Bank of America upgraded CMS Energy from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, April 11th. SunTrust Banks restated a “hold” rating and issued a $56.00 price target on shares of CMS Energy in a research report on Monday, February 25th. Finally, Credit Suisse Group set a $58.00 price target on CMS Energy and gave the stock a “buy” rating in a research report on Monday, April 22nd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. CMS Energy has a consensus rating of “Buy” and a consensus price target of $55.31.
CMS Energy (NYSE:CMS) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). CMS Energy had a return on equity of 13.16% and a net margin of 9.01%. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts predict that CMS Energy Co. will post 2.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be paid a $0.3825 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $1.53 dividend on an annualized basis and a yield of 2.70%. CMS Energy’s payout ratio is 65.67%.
In other CMS Energy news, SVP Catherine M. Reynolds sold 6,203 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $54.63, for a total value of $338,869.89. Following the sale, the senior vice president now owns 121,211 shares in the company, valued at $6,621,756.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Glenn P. Barba sold 8,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $54.95, for a total value of $467,075.00. Following the completion of the sale, the vice president now owns 28,555 shares in the company, valued at approximately $1,569,097.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,503 shares of company stock worth $1,735,825. Insiders own 0.52% of the company’s stock.
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About CMS Energy
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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