Westpac Banking Corp Takes $1.71 Million Position in CMS Energy Corporation $CMS

Key Points

• Westpac Banking Corp acquired 22,343 CMS Energy shares worth approximately $1.71 million in the second quarter. Institutional investors collectively own 93.57% of the utility company.
• CMS Energy reported quarterly EPS of $0.37, slightly above the $0.36 consensus estimate, while revenue of $1.83 billion fell short of expectations and declined 0.5% year over year.
• The company declared a quarterly dividend of $0.57 per share, equivalent to a 3.3% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $81.83, compared with a recent share price of $68.41.

Westpac Banking Corp acquired a new position in CMS Energy Corporation (NYSE:CMS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,343 shares of the utilities provider's stock, valued at approximately $1,709,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in CMS Energy during the fourth quarter valued at approximately $316,057,000. Magellan Asset Management Ltd boosted its stake in shares of CMS Energy by 698.7% during the 1st quarter. Magellan Asset Management Ltd now owns 2,019,954 shares of the utilities provider's stock worth $156,708,000 after acquiring an additional 1,767,059 shares during the last quarter. Vanguard Group Inc. grew its position in shares of CMS Energy by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 40,672,292 shares of the utilities provider's stock valued at $2,844,213,000 after acquiring an additional 1,501,991 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of CMS Energy by 70.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,571,251 shares of the utilities provider's stock worth $249,738,000 after purchasing an additional 1,481,779 shares in the last quarter. Finally, Parnassus Investments LLC bought a new position in CMS Energy in the 4th quarter worth $102,983,000. 93.57% of the stock is currently owned by institutional investors.

CMS Energy Price Performance

NYSE:CMS opened at $68.41 on Friday. The business's 50-day simple moving average is $73.65 and its two-hundred day simple moving average is $74.75. CMS Energy Corporation has a 52 week low of $68.25 and a 52 week high of $80.36. The stock has a market cap of $21.45 billion, a PE ratio of 20.54, a P/E/G ratio of 2.47 and a beta of 0.35. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

CMS Energy (NYSE:CMS - Get Free Report) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.87 billion. CMS Energy had a return on equity of 10.76% and a net margin of 11.64%.The firm's revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. CMS Energy has set its FY 2026 guidance at 4.080-4.170 EPS. As a group, analysts forecast that CMS Energy Corporation will post 3.87 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 7th. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. CMS Energy's dividend payout ratio (DPR) is presently 68.47%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Truist Financial lowered their target price on CMS Energy from $85.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Jefferies Financial Group set a $78.00 price target on CMS Energy in a research report on Thursday, July 16th. Barclays lifted their price objective on CMS Energy from $79.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. UBS Group reiterated a "neutral" rating and set a $84.00 price objective on shares of CMS Energy in a research note on Wednesday, July 29th. Finally, KeyCorp lowered shares of CMS Energy from an "overweight" rating to a "sector weight" rating in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, CMS Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.83.

Insider Activity at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,000 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $74.31, for a total value of $222,930.00. Following the transaction, the senior vice president owned 67,111 shares of the company's stock, valued at approximately $4,987,018.41. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

About CMS Energy

CMS Energy NYSE: CMS is an energy company based in Jackson, Michigan, whose principal business is the regulated utility operations of its subsidiary, Consumers Energy. The company is primarily focused on providing electric and natural gas service to customers in Michigan, operating the generation, transmission and distribution infrastructure necessary to deliver energy to residential, commercial and industrial customers. Headquartered in Jackson, CMS Energy conducts its core activities within the state and is regulated by state utility authorities.

Through Consumers Energy and related subsidiaries, CMS Energy develops, owns and operates a portfolio of generation assets and delivers a range of customer-facing services, including electricity and natural gas supply, grid management, energy efficiency programs and demand-response offerings.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source