Russell Investments Group Ltd. Buys 2,736,030 Shares of CMS Energy Corporation $CMS

Key Points

• Russell Investments increased its CMS Energy stake by 858.8%, buying 2.74 million shares in the third quarter to hold about 3.05 million shares, worth approximately $192.7 million.
• Analysts’ consensus rating is Hold, with an average price target of $77.35; seven analysts rate the stock Buy and eight rate it Hold.
• CMS Energy beat quarterly EPS estimates, reporting $1.44 per share versus $1.35 expected, while revenue of $2.18 billion fell short of estimates. The company also declared a quarterly dividend of $0.57 per share, equivalent to a 3.3% annual yield.

Russell Investments Group Ltd. raised its stake in CMS Energy Corporation (NYSE:CMS - Free Report) by 858.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,054,604 shares of the utilities provider's stock after acquiring an additional 2,736,030 shares during the period. Russell Investments Group Ltd. owned 0.97% of CMS Energy worth $192,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CMS. Eurizon Capital SGR S.p.A. lifted its holdings in shares of CMS Energy by 353.1% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 345,917 shares of the utilities provider's stock valued at $21,820,000 after purchasing an additional 269,573 shares during the last quarter. Terril Brothers Inc. acquired a new stake in shares of CMS Energy in the third quarter valued at approximately $405,000. CENTRAL TRUST Co grew its position in shares of CMS Energy by 24,177.3% during the third quarter. CENTRAL TRUST Co now owns 10,682 shares of the utilities provider's stock worth $674,000 after acquiring an additional 10,638 shares during the last quarter. New Mexico Educational Retirement Board grew its position in shares of CMS Energy by 302.6% during the third quarter. New Mexico Educational Retirement Board now owns 61,637 shares of the utilities provider's stock worth $3,888,000 after acquiring an additional 46,327 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of CMS Energy by 387.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 78,501 shares of the utilities provider's stock valued at $4,952,000 after acquiring an additional 62,395 shares during the period. Hedge funds and other institutional investors own 93.57% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMS. Barclays decreased their price target on shares of CMS Energy from $81.00 to $72.00 and set an "overweight" rating for the company in a research note on Friday, October 16th. Scotiabank reaffirmed a "sector outperform" rating and issued a $78.00 target price on shares of CMS Energy in a report on Thursday, October 1st. Royal Bank Of Canada set a $73.00 target price on shares of CMS Energy in a research note on Tuesday, October 6th. Wells Fargo & Company lowered their price target on CMS Energy from $79.00 to $73.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 28th. Finally, Morgan Stanley dropped their price target on CMS Energy from $77.00 to $73.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $77.35.

CMS Energy Stock Down 0.6%

CMS stock opened at $69.22 on Friday. CMS Energy Corporation has a one year low of $62.28 and a one year high of $80.36. The stock has a market capitalization of $21.71 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.54 and a beta of 0.31. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.67 and a current ratio of 0.95. The company has a fifty day moving average of $67.05 and a 200-day moving average of $72.47.

CMS Energy (NYSE:CMS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.09. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.23 billion. CMS Energy had a net margin of 9.72% and a return on equity of 12.28%. The business's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, analysts expect that CMS Energy Corporation will post 3.87 EPS for the current year.

CMS Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 6th. CMS Energy's payout ratio is currently 81.43%.

CMS Energy Profile

CMS Energy is a Michigan-based energy company and the parent of Consumers Energy, a regulated utility that provides electricity and natural gas to homes and businesses across Michigan's Lower Peninsula. Consumers Energy serves customers in all 68 counties in the peninsula. Through Consumers Energy, the company generates, purchases, transmits and distributes electricity, and supplies natural gas. Its operations include maintaining utility infrastructure and developing energy resources, including renewable generation, to support the region's energy needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.