Hedeker Wealth LLC reduced its position in CMS Energy Corporation (NYSE:CMS) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,591 shares of the utilities provider’s stock after selling 4,797 shares during the period. CMS Energy Corporation makes up about 2.6% of Hedeker Wealth LLC’s portfolio, making the stock its 4th largest position. Hedeker Wealth LLC’s holdings in CMS Energy Corporation were worth $2,710,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of CMS Energy Corporation by 1,171.6% in the first quarter. Renaissance Technologies LLC now owns 878,700 shares of the utilities provider’s stock worth $39,313,000 after buying an additional 809,600 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of CMS Energy Corporation by 5.7% in the first quarter. Lazard Asset Management LLC now owns 366,493 shares of the utilities provider’s stock worth $16,396,000 after buying an additional 19,783 shares during the last quarter. Johnson Financial Group Inc. increased its stake in shares of CMS Energy Corporation by 3.4% in the first quarter. Johnson Financial Group Inc. now owns 19,927 shares of the utilities provider’s stock worth $892,000 after buying an additional 656 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CMS Energy Corporation by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 654,848 shares of the utilities provider’s stock worth $29,297,000 after buying an additional 13,843 shares during the last quarter. Finally, RiverPoint Capital Management LLC purchased a new stake in shares of CMS Energy Corporation during the first quarter worth about $343,000. 87.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CMS Energy Corporation (CMS) traded up 0.260% during midday trading on Friday, reaching $48.205. 1,782,483 shares of the company were exchanged. The stock has a market capitalization of $13.50 billion, a P/E ratio of 22.944 and a beta of 0.15. CMS Energy Corporation has a 12-month low of $38.78 and a 12-month high of $48.37. The company has a 50 day moving average price of $46.37 and a 200-day moving average price of $43.94.
CMS Energy Corporation (NYSE:CMS) last issued its quarterly earnings data on Monday, May 1st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.06. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. CMS Energy Corporation had a return on equity of 13.94% and a net margin of 9.12%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. On average, analysts forecast that CMS Energy Corporation will post $2.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Friday, May 5th were issued a dividend of $0.3325 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $1.33 annualized dividend and a dividend yield of 2.77%. CMS Energy Corporation’s dividend payout ratio (DPR) is 63.03%.
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A number of equities research analysts recently weighed in on CMS shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $48.00 target price on shares of CMS Energy Corporation in a research note on Tuesday, May 2nd. Barclays PLC reaffirmed an “equal weight” rating and issued a $49.00 target price (up from $44.00) on shares of CMS Energy Corporation in a research note on Sunday, April 23rd. Deutsche Bank AG raised their target price on shares of CMS Energy Corporation from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Zacks Investment Research downgraded shares of CMS Energy Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, March 8th. Finally, Evercore ISI raised shares of CMS Energy Corporation to an “outperform” rating in a research note on Monday, March 6th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. CMS Energy Corporation currently has an average rating of “Hold” and an average target price of $46.60.
In other news, insider Dhenuvakonda Rao Venkat sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $45.50, for a total transaction of $91,000.00. Following the sale, the insider now directly owns 30,022 shares of the company’s stock, valued at approximately $1,366,001. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Catherine M. Reynolds sold 10,246 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $45.49, for a total value of $466,090.54. Following the sale, the senior vice president now directly owns 113,956 shares in the company, valued at $5,183,858.44. The disclosure for this sale can be found here. Insiders have sold a total of 88,246 shares of company stock worth $4,114,711 over the last ninety days. Insiders own 0.65% of the company’s stock.
About CMS Energy Corporation
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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