CMS Energy Corporation $CMS Stock: Cidel Asset Management Inc. Reduces Holdings

Key Points

• Cidel Asset Management reduced its CMS Energy stake by 12.1% in the third quarter, selling 49,092 shares and retaining 356,564 shares valued at approximately $22.5 million. Institutional investors collectively own 93.57% of the company.
• CMS Energy reported quarterly earnings of $1.44 per share, beating analyst expectations of $1.35, while revenue rose 8% year over year to $2.18 billion but fell short of estimates.
• The company declared a quarterly dividend of $0.57 per share, equivalent to an annualized $2.28 payout and a 3.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $77.35.

Cidel Asset Management Inc. reduced its position in CMS Energy Corporation (NYSE:CMS - Free Report) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 356,564 shares of the utilities provider's stock after selling 49,092 shares during the quarter. CMS Energy comprises about 1.1% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 28th biggest position. Cidel Asset Management Inc. owned 0.11% of CMS Energy worth $22,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMS. Summit Global Investments increased its stake in CMS Energy by 1.0% during the third quarter. Summit Global Investments now owns 35,161 shares of the utilities provider's stock worth $2,218,000 after acquiring an additional 348 shares during the last quarter. MGO One Seven LLC lifted its stake in shares of CMS Energy by 19.9% in the 3rd quarter. MGO One Seven LLC now owns 4,098 shares of the utilities provider's stock valued at $259,000 after purchasing an additional 681 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of CMS Energy during the 3rd quarter worth about $692,000. North Dakota State Investment Board grew its holdings in shares of CMS Energy by 5.1% during the 3rd quarter. North Dakota State Investment Board now owns 9,460 shares of the utilities provider's stock worth $597,000 after purchasing an additional 461 shares during the period. Finally, VestGen Advisors LLC increased its position in CMS Energy by 4.9% during the 3rd quarter. VestGen Advisors LLC now owns 3,653 shares of the utilities provider's stock worth $230,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company's stock.

CMS Energy Trading Up 0.9%

NYSE:CMS opened at $70.12 on Friday. The stock has a market cap of $21.99 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.56 and a beta of 0.32. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.67 and a current ratio of 0.95. CMS Energy Corporation has a 1 year low of $62.28 and a 1 year high of $80.36. The business has a fifty day moving average of $66.77 and a 200-day moving average of $72.53.

CMS Energy (NYSE:CMS - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.23 billion. CMS Energy had a net margin of 9.72% and a return on equity of 12.28%. The company's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 earnings per share. Equities analysts predict 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 given a dividend of $0.57 per share. 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 payout ratio is 81.43%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMS. Wells Fargo & Company cut 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. Morgan Stanley lowered their price target on CMS Energy from $77.00 to $73.00 and set an "equal weight" rating for the company in a report on Wednesday, October 21st. Capital One Financial set a $73.00 target price on CMS Energy in a research note on Tuesday, October 6th. BMO Capital Markets upped their target price on shares of CMS Energy from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Monday, October 19th. Finally, Argus restated a "buy" rating and issued a $80.00 price target on shares of CMS Energy in a research note on Wednesday, August 26th. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.

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