CMS Energy Corporation $CMS Stock: Apollon Wealth Management LLC Raises Position

Key Points

• Apollon Wealth Management increased its CMS Energy stake by 211.4% in the third quarter, bringing its holdings to 28,516 shares valued at approximately $1.8 million. Institutional investors collectively own 93.57% of the company.
• CMS Energy reported quarterly EPS of $1.44, exceeding the $1.35 analyst consensus, while revenue rose 8% year over year to $2.18 billion but fell short of estimates.
• Analysts maintain a consensus “Hold” rating with an average price target of $77.35, while CMS Energy announced a quarterly dividend of $0.57 per share, representing a 3.3% annualized yield.

Apollon Wealth Management LLC lifted its stake in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 211.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,516 shares of the utilities provider's stock after acquiring an additional 19,359 shares during the period. Apollon Wealth Management LLC's holdings in CMS Energy were worth $1,799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new stake in CMS Energy during the second quarter worth approximately $363,388,000. Magellan Asset Management Ltd acquired a new position in CMS Energy in the second quarter valued at $194,237,000. Legal & General Group Plc acquired a new position in CMS Energy in the second quarter valued at $189,370,000. Dimensional Fund Advisors LP increased its stake in CMS Energy by 3.3% in 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 purchasing an additional 50,475 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in CMS Energy during the second quarter worth about $91,344,000. Hedge funds and other institutional investors own 93.57% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Capital One Financial set a $73.00 price target on shares of CMS Energy in a research report on Tuesday, October 6th. Morgan Stanley decreased their price target on shares of CMS Energy from $77.00 to $73.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 21st. Wells Fargo & Company decreased their price target on shares of CMS Energy from $79.00 to $73.00 and set an "equal weight" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of CMS Energy from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Finally, Argus restated a "buy" rating and set a $80.00 price objective on shares of CMS Energy in a report on Wednesday, August 26th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $77.35.

CMS Energy Price Performance

Shares of NYSE CMS opened at $69.42 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.95 and a quick ratio of 0.67. CMS Energy Corporation has a 1-year low of $62.28 and a 1-year high of $80.36. The company has a market capitalization of $21.77 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.49 and a beta of 0.32. The business has a 50-day moving average of $66.77 and a 200-day moving average of $72.52.

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

CMS Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, November 6th. CMS Energy's dividend payout ratio is 68.47%.

CMS Energy Company 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.

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