Covea Finance Purchases 62,650 Shares of CMS Energy Corporation $CMS

Key Points

• Covea Finance increased its stake in CMS Energy Corporation by 36.1% during Q2, owning a total of 236,050 shares worth approximately $16.35 million.
• CMS Energy reported a quarterly earnings per share (EPS) of $0.71, exceeding the consensus estimate of $0.67, with revenue growing 14.4% year-over-year.
• The company declared a quarterly dividend of $0.5425 per share, reflecting an annualized dividend yield of 3.1% and a dividend payout ratio of 64.20%.

Covea Finance increased its position in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 36.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 236,050 shares of the utilities provider's stock after acquiring an additional 62,650 shares during the period. Covea Finance owned about 0.08% of CMS Energy worth $16,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMS. AlphaQuest LLC lifted its holdings in CMS Energy by 285.5% during the 1st quarter. AlphaQuest LLC now owns 451 shares of the utilities provider's stock worth $34,000 after buying an additional 334 shares during the period. WPG Advisers LLC acquired a new position in CMS Energy during the 1st quarter worth about $47,000. Bernard Wealth Management Corp. acquired a new position in CMS Energy during the 1st quarter worth about $72,000. NBC Securities Inc. acquired a new position in CMS Energy during the 1st quarter worth about $75,000. Finally, Grove Bank & Trust lifted its stake in shares of CMS Energy by 167.3% in the 1st quarter. Grove Bank & Trust now owns 1,072 shares of the utilities provider's stock valued at $81,000 after purchasing an additional 671 shares during the period. Institutional investors own 93.57% of the company's stock.

CMS Energy Price Performance

CMS Energy stock opened at $70.50 on Tuesday. CMS Energy Corporation has a 12 month low of $63.97 and a 12 month high of $76.45. The company has a current ratio of 1.00, a quick ratio of 0.77 and a debt-to-equity ratio of 1.93. The business's 50 day simple moving average is $72.14 and its 200 day simple moving average is $71.67. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.61 and a beta of 0.39.

CMS Energy (NYSE:CMS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04. CMS Energy had a return on equity of 12.07% and a net margin of 12.76%.The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. CMS Energy's revenue for the quarter was up 14.4% on a year-over-year basis. CMS Energy has set its FY 2025 guidance at 3.540-3.600 EPS. Sell-side analysts forecast that CMS Energy Corporation will post 3.59 EPS for the current year.

CMS Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were given a dividend of $0.5425 per share. The ex-dividend date was Friday, August 8th. This represents a $2.17 annualized dividend and a dividend yield of 3.1%. CMS Energy's dividend payout ratio is currently 64.20%.

Insider Buying and Selling at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $73.62, for a total transaction of $147,240.00. Following the sale, the senior vice president owned 68,036 shares in the company, valued at $5,008,810.32. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Lauren Y. Snyder sold 2,220 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $71.26, for a total value of $158,197.20. Following the completion of the sale, the senior vice president owned 13,512 shares in the company, valued at $962,865.12. This trade represents a 14.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMS. Morgan Stanley reissued an "outperform" rating on shares of CMS Energy in a research note on Thursday, August 21st. Wall Street Zen downgraded CMS Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Wolfe Research reissued a "peer perform" rating on shares of CMS Energy in a research note on Monday, July 7th. Finally, Barclays boosted their price objective on CMS Energy from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $77.25.

CMS Energy Profile

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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