CMS Energy Corporation $CMS Stock: Bokf Na Reduces Position

Key Points

• Bokf Na cut its CMS Energy position by 99% in the third quarter, selling 139,915 shares and retaining 1,360 shares valued at approximately $86,000. Institutional investors collectively own 93.57% of the company.
• Analysts maintain a mixed outlook, with CMS Energy receiving an average rating of “Hold” and an average price target of $77.35. Recent targets range from $69 to $80, while the stock opened at $70.77.
• CMS Energy exceeded quarterly earnings expectations, reporting $1.44 in EPS versus the $1.35 consensus estimate, while revenue rose 8% year over year to $2.18 billion. The company also declared a quarterly dividend of $0.57 per share, equivalent to a 3.2% annual yield.

Bokf Na trimmed its holdings in CMS Energy Corporation (NYSE:CMS - Free Report) by 99.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,360 shares of the utilities provider's stock after selling 139,915 shares during the period. Bokf Na's holdings in CMS Energy were worth $86,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kilter Group LLC bought a new stake in shares of CMS Energy in the 2nd quarter worth about $26,000. Scarborough Advisors LLC bought a new position in shares of CMS Energy during the first quarter worth about $31,000. Independence Bank of Kentucky bought a new position in shares of CMS Energy during the third quarter worth about $27,000. Trust Co. of Vermont bought a new position in shares of CMS Energy during the second quarter worth about $33,000. Finally, MidFirst Bank acquired a new position in CMS Energy in the second quarter worth about $34,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CMS shares. HSBC started coverage on CMS Energy in a research note on Thursday, October 22nd. They set a "hold" rating and a $69.00 price objective on the stock. Barclays decreased their target price on CMS Energy from $81.00 to $72.00 and set an "overweight" rating for the company in a research report on Friday, October 16th. Argus reiterated a "buy" rating and issued a $80.00 price target on shares of CMS Energy in a report on Wednesday, August 26th. Scotiabank reiterated a "sector outperform" rating and issued a $78.00 price target on shares of CMS Energy in a report on Thursday, October 1st. Finally, KeyCorp lowered CMS Energy from an "overweight" rating to a "sector weight" rating in a research report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $77.35.

CMS Energy Trading Up 1.0%

NYSE:CMS opened at $70.77 on Tuesday. CMS Energy Corporation has a 12-month low of $62.28 and a 12-month high of $80.36. The firm has a market capitalization of $22.20 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.49 and a beta of 0.32. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.95 and a quick ratio of 0.67. The business has a 50 day simple moving average of $66.82 and a 200 day simple moving average of $72.53.

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

CMS Energy Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 6th. CMS Energy's payout ratio is presently 81.43%.

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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