Hennessy Advisors Inc. Increases Position in CMS Energy Corporation $CMS

Key Points

• Hennessy Advisors Inc. increased its holdings in CMS Energy Corporation by 3.0% during Q2, acquiring an additional 4,800 shares, bringing its total ownership to $11.6 million.
• In its latest earnings report, CMS Energy exceeded expectations with $0.71 EPS against a forecast of $0.67 and reported a 14.4% increase in quarterly revenue year-over-year.
• CMS Energy announced a quarterly dividend of $0.5425 per share, yielding 3.0%, and its payout ratio stands at 64.20%.

Hennessy Advisors Inc. lifted its holdings in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 167,498 shares of the utilities provider's stock after acquiring an additional 4,800 shares during the quarter. Hennessy Advisors Inc. owned 0.06% of CMS Energy worth $11,604,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CMS. AlphaQuest LLC increased its position in shares of CMS Energy by 285.5% during the first quarter. AlphaQuest LLC now owns 451 shares of the utilities provider's stock worth $34,000 after acquiring an additional 334 shares during the last quarter. Trust Co. of Vermont increased its position in shares of CMS Energy by 127.7% during the second quarter. Trust Co. of Vermont now owns 535 shares of the utilities provider's stock worth $37,000 after acquiring an additional 300 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of CMS Energy during the first quarter worth about $47,000. Bernard Wealth Management Corp. purchased a new stake in shares of CMS Energy during the first quarter worth about $72,000. Finally, NBC Securities Inc. purchased a new stake in shares of CMS Energy during the first quarter worth about $75,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

CMS Energy Stock Performance

Shares of CMS stock opened at $72.35 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.93. The business has a 50 day moving average of $72.14 and a two-hundred day moving average of $71.65. CMS Energy Corporation has a 52 week low of $63.97 and a 52 week high of $76.45. The company has a market cap of $21.66 billion, a P/E ratio of 21.41, a PEG ratio of 2.67 and a beta of 0.40.

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

CMS Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 3.0%. CMS Energy's payout ratio is currently 64.20%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CMS. Wall Street Zen lowered CMS Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Barclays boosted their price objective on CMS Energy from $77.00 to $78.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Wolfe Research reissued a "peer perform" rating on shares of CMS Energy in a report on Monday, July 7th. Weiss Ratings reissued a "buy (b-)" rating on shares of CMS Energy in a report on Saturday, September 27th. Finally, Morgan Stanley lowered their price objective on CMS Energy from $73.00 to $71.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $77.36.

Insider Activity at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 68,036 shares in the company, valued at approximately $5,008,810.32. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Lauren Y. Snyder sold 2,220 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president owned 13,512 shares of the company's stock, valued at approximately $962,865.12. This represents a 14.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

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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