Wedge Capital Management L L P NC Reduces Stake in CMS Energy Corporation $CMS

Key Points

• Wedge Capital Management L L P NC reduced its stake in CMS Energy Corporation by 22.0% during the 2nd quarter, resulting in ownership of 18,949 shares valued at approximately $1.31 million.
• Insider sales included Lauren Y. Snyder selling 2,220 shares and Brandon J. Hofmeister selling 2,000 shares, which decreased their respective ownership percentages.
• CMS Energy's quarterly revenue increased by 14.4% year-over-year, with reported earnings per share of $0.71, surpassing estimates; the company has set FY 2025 guidance at 3.540-3.600 EPS.

Wedge Capital Management L L P NC lowered its position in CMS Energy Corporation (NYSE:CMS - Free Report) by 22.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,949 shares of the utilities provider's stock after selling 5,341 shares during the period. Wedge Capital Management L L P NC's holdings in CMS Energy were worth $1,313,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its position in shares of CMS Energy by 4.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 23,064 shares of the utilities provider's stock worth $1,732,000 after acquiring an additional 893 shares in the last quarter. Private Trust Co. NA raised its position 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 worth $110,000 after acquiring an additional 185 shares in the last quarter. Vontobel Holding Ltd. increased its position in CMS Energy by 9.4% during the 1st quarter. Vontobel Holding Ltd. now owns 4,662 shares of the utilities provider's stock valued at $350,000 after buying an additional 400 shares in the last quarter. State of Alaska Department of Revenue increased its position in CMS Energy by 2.8% during 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 buying an additional 950 shares in the last quarter. Finally, Jane Street Group LLC increased its position in CMS Energy by 503.4% during the 1st quarter. Jane Street Group LLC now owns 175,804 shares of the utilities provider's stock valued at $13,205,000 after buying an additional 146,667 shares in the last quarter. Institutional investors own 93.57% of the company's stock.

Insider Activity

In other news, SVP Lauren Y. Snyder sold 2,220 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $71.26, for a total value of $158,197.20. Following the transaction, the senior vice president directly owned 13,512 shares in the company, valued at $962,865.12. The trade was a 14.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were 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 owned 68,036 shares in the company, valued at $5,008,810.32. The trade was a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

Analyst Ratings Changes

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

CMS Energy Price Performance

NYSE CMS opened at $70.50 on Tuesday. The company has a market capitalization of $21.10 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.77 and a current ratio of 1.00. The business's fifty day moving average is $72.14 and its 200 day moving average is $71.67. CMS Energy Corporation has a fifty-two week low of $63.97 and a fifty-two 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 for the quarter, beating the consensus estimate of $0.67 by $0.04. The company 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%.CMS Energy's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. CMS Energy has set its FY 2025 guidance at 3.540-3.600 EPS. Sell-side analysts predict that CMS Energy Corporation will post 3.59 earnings per share for the current year.

CMS Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were given a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 8th. CMS Energy's payout ratio is presently 64.20%.

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.

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