CMS Energy Corporation $CMS Shares Purchased by Sowell Financial Services LLC

Key Points

• Sowell Financial Services increased its CMS Energy position by 484.9% in the third quarter, bringing its holdings to 24,652 shares valued at approximately $1.56 million. Institutional investors collectively own 93.57% of the company.
• CMS Energy reported quarterly EPS of $1.44, exceeding estimates of $1.35, while revenue rose 8% year over year to $2.18 billion, slightly below expectations.
• The company announced a quarterly dividend of $0.57 per share, equivalent to a 3.3% annual yield. Analysts maintain a consensus “Hold” rating with an average price target of $77.35, compared with a share price of $70.12.

Sowell Financial Services LLC lifted its position in CMS Energy Corporation (NYSE:CMS - Free Report) by 484.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,652 shares of the utilities provider's stock after purchasing an additional 20,437 shares during the period. Sowell Financial Services LLC's holdings in CMS Energy were worth $1,555,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. GQG Partners LLC purchased a new stake in CMS Energy during the 2nd quarter valued at $363,388,000. Magellan Asset Management Ltd purchased a new position in shares of CMS Energy in the second quarter valued at about $194,237,000. Legal & General Group Plc purchased a new position in shares of CMS Energy in the second quarter valued at about $189,370,000. Dimensional Fund Advisors LP raised its stake in shares of CMS Energy by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,581,115 shares of the utilities provider's stock valued at $122,657,000 after acquiring an additional 50,475 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of CMS Energy during the second quarter valued at about $91,344,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

CMS Energy Trading Up 0.9%

Shares of NYSE CMS opened at $70.12 on Friday. The firm's 50 day moving average price is $66.77 and its 200-day moving average price is $72.53. CMS Energy Corporation has a 52-week low of $62.28 and a 52-week high of $80.36. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.67 and a current ratio of 0.95. The company has a market cap of $21.99 billion, a PE ratio of 25.04, a P/E/G ratio of 2.56 and a beta of 0.32.

CMS Energy (NYSE:CMS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.09. CMS Energy had a net margin of 9.72% and a return on equity of 12.28%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that CMS Energy Corporation will post 3.87 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, November 6th. CMS Energy's dividend payout ratio (DPR) is currently 81.43%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays dropped their target price on shares of CMS Energy from $81.00 to $72.00 and set an "overweight" rating for the company in a report on Friday, October 16th. Scotiabank restated a "sector outperform" rating and set a $78.00 price target on shares of CMS Energy in a report on Thursday, October 1st. HSBC started coverage on CMS Energy in a research report on Thursday, October 22nd. They set a "hold" rating and a $69.00 price target for the company. Wells Fargo & Company lowered their price target on CMS Energy from $79.00 to $73.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Truist Financial dropped their price objective on CMS Energy from $81.00 to $77.00 and set a "buy" rating for the company in a report on Wednesday, October 14th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, CMS Energy currently has a consensus rating of "Hold" and an average target price of $77.35.

CMS Energy Profile

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.