Mackenzie Financial Corp Increases Stock Position in CMS Energy Corporation (NYSE:CMS)

Key Points

• Mackenzie Financial Corp increased its stake in CMS Energy Corporation by 13.2%, owning 29,406 shares valued at approximately $2.21 million as of the latest reporting period.
• CMS Energy recently reported quarterly earnings of $0.71 EPS, surpassing analysts' expectations of $0.67, with revenue up 14.4% year-over-year.
• The company announced a quarterly dividend of $0.5425, representing an annual yield of 2.9%, with a payout ratio of 64.20%.

Mackenzie Financial Corp increased its holdings in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,406 shares of the utilities provider's stock after acquiring an additional 3,429 shares during the quarter. Mackenzie Financial Corp's holdings in CMS Energy were worth $2,209,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of CMS Energy by 32.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,256,949 shares of the utilities provider's stock valued at $950,227,000 after purchasing an additional 3,486,074 shares in the last quarter. Northern Trust Corp boosted its stake in shares of CMS Energy by 11.6% in the 4th quarter. Northern Trust Corp now owns 2,986,489 shares of the utilities provider's stock valued at $199,049,000 after purchasing an additional 311,489 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CMS Energy by 21.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,624,075 shares of the utilities provider's stock valued at $174,895,000 after purchasing an additional 468,233 shares during the last quarter. Perpetual Ltd increased its position in CMS Energy by 3.9% during the 1st quarter. Perpetual Ltd now owns 2,155,984 shares of the utilities provider's stock worth $161,936,000 after purchasing an additional 81,867 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in CMS Energy by 8.4% in the 1st quarter. Truist Financial Corp now owns 1,757,747 shares of the utilities provider's stock valued at $132,024,000 after purchasing an additional 136,185 shares during the last quarter. Institutional investors and hedge funds own 93.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CMS. Barclays raised 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. Scotiabank reaffirmed an "outperform" rating and issued a $81.00 price objective (up previously from $77.00) on shares of CMS Energy in a research note on Friday, April 25th. Jefferies Financial Group boosted their target price 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. Wells Fargo & Company raised their price target on shares of CMS Energy from $78.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, BMO Capital Markets boosted their price objective 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $77.25.

CMS Energy Stock Up 0.6%

CMS traded up $0.44 during midday trading on Thursday, hitting $74.55. The company had a trading volume of 1,592,991 shares, compared to its average volume of 2,481,582. The stock's 50 day moving average price is $70.77 and its 200 day moving average price is $71.07. CMS Energy Corporation has a 52 week low of $63.97 and a 52 week high of $76.45. The company has a market capitalization of $22.31 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.76 and a beta of 0.36. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.93.

CMS Energy (NYSE:CMS - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $1.84 billion for 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%. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. On average, research analysts anticipate that CMS Energy Corporation will post 3.59 earnings per share for the current fiscal year.

CMS Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be given a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.17 annualized dividend and a dividend yield of 2.9%. CMS Energy's payout ratio is presently 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.