CMS Energy Corporation $CMS Shares Acquired by Summit Financial LLC

Key Points

• Summit Financial LLC increased its stake in CMS Energy Corporation by 52%, acquiring an additional 4,257 shares, bringing its total holdings to 12,439 shares valued at $934,000.
• CMS Energy reported quarterly earnings of $0.71 per share, exceeding estimates, with a revenue increase of 14.4% year-over-year, reaching $1.84 billion.
• The quarterly dividend announced by CMS Energy is set at $0.5425 per share, translating to an annualized dividend of $2.17 and a yield of 3.0%.

Summit Financial LLC increased its position in CMS Energy Corporation (NYSE:CMS - Free Report) by 52.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,439 shares of the utilities provider's stock after acquiring an additional 4,257 shares during the period. Summit Financial LLC's holdings in CMS Energy were worth $934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sigma Planning Corp grew its holdings in shares of CMS Energy by 0.4% in the 1st quarter. Sigma Planning Corp now owns 32,045 shares of the utilities provider's stock worth $2,407,000 after acquiring an additional 142 shares during the period. Sage Mountain Advisors LLC lifted its stake in CMS Energy by 4.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 3,360 shares of the utilities provider's stock valued at $252,000 after buying an additional 144 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in CMS Energy by 1.3% in the 1st quarter. Sumitomo Life Insurance Co. now owns 11,233 shares of the utilities provider's stock valued at $844,000 after buying an additional 146 shares in the last quarter. Spire Wealth Management lifted its stake in CMS Energy by 6.4% in the 1st quarter. Spire Wealth Management now owns 2,550 shares of the utilities provider's stock valued at $191,000 after buying an additional 154 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC lifted its stake in CMS Energy by 0.8% in the 1st quarter. Nicholson Wealth Management Group LLC now owns 23,337 shares of the utilities provider's stock valued at $1,753,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CMS shares. Wall Street Zen lowered CMS Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Morgan Stanley reaffirmed an "outperform" rating on shares of CMS Energy in a research note on Thursday, August 21st. Barclays upped their target price on CMS Energy from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of CMS Energy in a research note on Monday, July 7th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, CMS Energy currently has a consensus rating of "Moderate Buy" and an average price target of $77.25.

CMS Energy Trading Down 1.4%

Shares of CMS Energy stock traded down $0.99 during trading hours on Thursday, reaching $71.22. 697,091 shares of the company's stock were exchanged, compared to its average volume of 2,461,721. CMS Energy Corporation has a 52-week low of $63.97 and a 52-week high of $76.45. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.68 and a beta of 0.36. The company has a fifty day moving average of $71.65 and a 200-day moving average of $71.70. The company has a current ratio of 1.00, a quick ratio of 0.77 and a debt-to-equity ratio of 1.93.

CMS Energy (NYSE:CMS - Get Free Report) last issued 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 company had revenue of $1.84 billion for 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%.The business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 EPS. CMS Energy has set its FY 2025 guidance at 3.540-3.600 EPS. Sell-side analysts forecast that CMS Energy Corporation will post 3.59 EPS for the current fiscal year.

CMS Energy Announces Dividend

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

Insider Activity at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the company's stock in a transaction 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 sale, the senior vice president directly owned 68,036 shares in the company, valued at $5,008,810.32. This represents a 2.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.40% of the stock is currently owned by insiders.

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.