Nuveen LLC Acquires New Stake in CMS Energy Corporation (NYSE:CMS)

Key Points

• Nuveen LLC has acquired 1,421,183 shares of CMS Energy Corporation, valued at approximately $106.7 million, representing about 0.48% of the company's stock.
• CMS Energy recently reported a quarterly earnings per share (EPS) of $0.71, exceeding the consensus estimate and indicating a 14.4% revenue growth year-over-year.
• The company announced a quarterly dividend of $0.5425 per share, set to be paid on August 29th, contributing to a 3.0% dividend yield.

Nuveen LLC acquired a new stake in CMS Energy Corporation (NYSE:CMS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,421,183 shares of the utilities provider's stock, valued at approximately $106,745,000. Nuveen LLC owned 0.48% of CMS Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMS. Raymond James Financial Inc. acquired a new position in shares of CMS Energy in the 4th quarter valued at about $24,481,000. Townsquare Capital LLC acquired a new position in CMS Energy during the 4th quarter worth approximately $391,000. SageView Advisory Group LLC raised its stake in CMS Energy by 7.1% during the 4th quarter. SageView Advisory Group LLC now owns 3,762 shares of the utilities provider's stock worth $251,000 after buying an additional 249 shares during the period. Mariner LLC raised its stake in CMS Energy by 14.7% during the 4th quarter. Mariner LLC now owns 38,738 shares of the utilities provider's stock worth $2,582,000 after buying an additional 4,978 shares during the period. Finally, Walleye Capital LLC raised its stake in CMS Energy by 100.4% during the 4th quarter. Walleye Capital LLC now owns 15,906 shares of the utilities provider's stock worth $1,060,000 after buying an additional 7,968 shares during the period. 93.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CMS. Wall Street Zen downgraded CMS Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Barclays upped their price target on CMS Energy from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Wolfe Research reaffirmed a "peer perform" rating on shares of CMS Energy in a research note on Monday, July 7th. Evercore ISI upped their price target on CMS Energy from $73.00 to $76.00 and gave the stock an "in-line" rating in a research note on Monday, April 28th. Finally, BMO Capital Markets boosted their price objective on CMS Energy from $77.00 to $79.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, CMS Energy has an average rating of "Hold" and a consensus target price of $77.25.

CMS Energy Stock Performance

Shares of CMS stock traded down $0.34 during trading on Friday, hitting $72.25. The company's stock had a trading volume of 2,491,515 shares, compared to its average volume of 2,276,168. The company has a market cap of $21.63 billion, a PE ratio of 21.38, a P/E/G ratio of 2.69 and a beta of 0.36. 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 has a fifty day moving average of $71.21 and a 200-day moving average of $71.42. CMS Energy Corporation has a 52 week low of $63.97 and a 52 week high of $76.45.

CMS Energy (NYSE:CMS - Get Free Report) last released its earnings results 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 company had revenue of $1.84 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. As a group, research analysts anticipate that CMS Energy Corporation will post 3.59 earnings per share for the current year.

CMS Energy Dividend Announcement

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 issued a $0.5425 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.17 annualized dividend and a dividend yield of 3.0%. CMS Energy's dividend payout ratio is currently 64.20%.

Insider Activity

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the company'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 value of $147,240.00. Following the completion of the transaction, the senior vice president directly owned 68,036 shares of the company's stock, 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 hyperlink. 0.40% of the stock is currently owned by corporate insiders.

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.