CMS Energy Corporation (NYSE:CMS) Shares Sold by Magellan Asset Management Ltd

Key Points

• Magellan Asset Management Ltd reduced its stake in CMS Energy Corporation by 85.7%, owning just 201,400 shares after selling over 1.2 million shares in the first quarter.
• CMS Energy reported $0.71 earnings per share for the latest quarter, exceeding expectations and marking a 14.4% revenue growth year-over-year.
• The company recently announced a quarterly dividend of $0.5425 per share, with a dividend yield of 3.0% and a payout ratio of 64.20%.

Magellan Asset Management Ltd lessened its stake in CMS Energy Corporation (NYSE:CMS - Free Report) by 85.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,400 shares of the utilities provider's stock after selling 1,211,124 shares during the period. Magellan Asset Management Ltd owned 0.07% of CMS Energy worth $15,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CMS. Optiver Holding B.V. boosted its stake in shares of CMS Energy by 39.2% during the fourth quarter. Optiver Holding B.V. now owns 813 shares of the utilities provider's stock worth $54,000 after buying an additional 229 shares during the period. Covestor Ltd boosted its stake in shares of CMS Energy by 51.9% during the fourth quarter. Covestor Ltd now owns 1,065 shares of the utilities provider's stock worth $71,000 after buying an additional 364 shares during the period. Bernard Wealth Management Corp. acquired a new stake in shares of CMS Energy during the first quarter worth about $72,000. Quarry LP boosted its stake in shares of CMS Energy by 36.5% during the fourth quarter. Quarry LP now owns 1,118 shares of the utilities provider's stock worth $75,000 after buying an additional 299 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of CMS Energy during the first quarter worth about $75,000. Institutional investors and hedge funds own 93.57% of the company's stock.

CMS Energy Stock Performance

CMS opened at $73.52 on Friday. The stock has a market cap of $22.01 billion, a P/E ratio of 21.75, a P/E/G ratio of 2.73 and a beta of 0.36. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.00 and a quick ratio of 0.77. The stock's 50 day simple moving average is $70.93 and its 200 day simple moving average is $71.19. CMS Energy Corporation has a 1-year low of $63.97 and a 1-year high of $76.45.

CMS Energy (NYSE:CMS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.04. CMS Energy had a net margin of 12.76% and a return on equity of 12.07%. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the company posted $0.66 EPS. The company's revenue was up 14.4% on a year-over-year basis. As a group, equities analysts anticipate that CMS Energy Corporation will post 3.59 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 8th. CMS Energy's dividend payout ratio (DPR) is 64.20%.

Wall Street Analysts Forecast Growth

CMS has been the subject of several recent research reports. BMO Capital Markets increased their target price on shares of CMS Energy from $77.00 to $79.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Jefferies Financial Group increased their price target on shares of CMS Energy from $77.00 to $83.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Barclays increased their price target on shares of CMS Energy from $77.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Evercore ISI increased their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. Finally, Wolfe Research reissued a "peer perform" rating on shares of CMS Energy in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $77.25.

About CMS Energy

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.

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