CMS Energy Corporation $CMS Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its stake in CMS Energy Corporation by 3.5%, owning approximately $13.55 million worth of the company after selling 6,600 shares in the first quarter.
• CMS Energy reported earnings per share of $0.71, exceeding estimates of $0.67, with a revenue of $1.84 billion for the quarter, up 14.4% year-over-year.
• The company announced a quarterly dividend of $0.5425 per share, equating to an annualized yield of 3.0%, payable on August 29th.

Korea Investment CORP trimmed its stake in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,376 shares of the utilities provider's stock after selling 6,600 shares during the period. Korea Investment CORP owned 0.06% of CMS Energy worth $13,548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its holdings in CMS Energy by 4.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 23,064 shares of the utilities provider's stock valued at $1,732,000 after buying an additional 893 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of CMS Energy by 14.4% in the 1st quarter. Private Trust Co. NA now owns 1,466 shares of the utilities provider's stock valued at $110,000 after purchasing an additional 185 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of CMS Energy by 9.4% in the 1st quarter. Vontobel Holding Ltd. now owns 4,662 shares of the utilities provider's stock valued at $350,000 after purchasing an additional 400 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of CMS Energy by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 35,015 shares of the utilities provider's stock valued at $2,629,000 after purchasing an additional 950 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of CMS Energy by 32.6% in the 1st quarter. Cerity Partners LLC now owns 34,681 shares of the utilities provider's stock valued at $2,605,000 after purchasing an additional 8,536 shares in the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.62, for a total transaction of $147,240.00. Following the completion of the sale, the senior vice president directly owned 68,036 shares in the company, valued at approximately $5,008,810.32. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.49% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on CMS shares. BMO Capital Markets boosted their target price on shares of CMS Energy from $77.00 to $79.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Barclays boosted their target price on shares of CMS Energy from $77.00 to $78.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Wall Street Zen downgraded shares of CMS Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Morgan Stanley set a $71.00 price objective on shares of CMS Energy and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of CMS Energy in a report on Monday, July 7th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $77.25.

CMS Energy Price Performance

CMS traded up $0.3130 during midday trading on Friday, hitting $73.0930. 1,807,168 shares of the company traded hands, compared to its average volume of 2,458,383. 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 company has a market capitalization of $21.88 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.72 and a beta of 0.36. CMS Energy Corporation has a 52-week low of $63.97 and a 52-week high of $76.45. The business has a 50 day simple moving average of $71.47 and a two-hundred day simple moving average of $71.67.

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

CMS Energy Dividend Announcement

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

CMS Energy Company 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.