CMS Energy Corporation $CMS Stock Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its CMS Energy stake by 173.5% in the third quarter, adding 88,748 shares to hold 139,914 shares valued at approximately $8.8 million. Institutional investors collectively own 93.57% of the company.
• CMS Energy beat quarterly earnings expectations, reporting $1.44 per share versus the $1.35 estimate, while revenue rose 8% year over year to $2.18 billion—below analysts’ forecast of $2.23 billion.
• The company declared a quarterly dividend of $0.57 per share, equivalent to a 3.3% annualized yield. Analysts’ consensus rating is Hold, with an average price target of $77.35.

Ethic Inc. grew its stake in CMS Energy Corporation (NYSE:CMS - Free Report) by 173.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,914 shares of the utilities provider's stock after acquiring an additional 88,748 shares during the quarter. Ethic Inc.'s holdings in CMS Energy were worth $8,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kilter Group LLC purchased a new stake in CMS Energy during the 2nd quarter worth about $26,000. Independence Bank of Kentucky purchased a new position in CMS Energy in the 3rd quarter valued at about $27,000. Pension & Wealth Management Advisors Inc. purchased a new position in CMS Energy in the 3rd quarter valued at about $30,000. Scarborough Advisors LLC purchased a new position in CMS Energy in the 1st quarter valued at about $31,000. Finally, Trust Co. of Vermont acquired a new stake in shares of CMS Energy during the 2nd quarter worth about $33,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CMS shares. BMO Capital Markets lifted their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Monday, October 19th. JPMorgan Chase & Co. upped 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. HSBC began coverage on shares of CMS Energy in a research report on Thursday, October 22nd. They set a "hold" rating and a $69.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of CMS Energy from $79.00 to $73.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 28th. Finally, UBS Group reiterated a "neutral" rating and issued a $84.00 price target on shares of CMS Energy in a report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $77.35.

CMS Energy Price Performance

CMS opened at $69.18 on Monday. CMS Energy Corporation has a 12 month low of $62.28 and a 12 month high of $80.36. The business has a 50-day moving average of $66.94 and a two-hundred day moving average of $72.50. 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 stock has a market capitalization of $21.70 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.53 and a beta of 0.31.

CMS Energy (NYSE:CMS - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.72% and a return on equity of 12.28%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm posted $0.93 EPS. The company's revenue was up 8.0% on a year-over-year basis. On average, research analysts expect that CMS Energy Corporation will post 3.87 earnings per share for the current year.

CMS Energy Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. CMS Energy's dividend payout ratio (DPR) is currently 81.43%.

About CMS Energy

CMS Energy is a Michigan-based energy company and the parent of Consumers Energy, a regulated utility that provides electricity and natural gas to homes and businesses across Michigan's Lower Peninsula. Consumers Energy serves customers in all 68 counties in the peninsula.

Through Consumers Energy, the company generates, purchases, transmits and distributes electricity, and supplies natural gas. Its operations include maintaining utility infrastructure and developing energy resources, including renewable generation, to support the region's energy needs.

CMS Energy was formed as a holding company in 1987 and is headquartered in Jackson, Michigan.

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