Pictet Asset Management Ltd. lifted its holdings in shares of CMS Energy Co. (NYSE:CMS) by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,705,646 shares of the utilities provider’s stock after buying an additional 664,178 shares during the period. Pictet Asset Management Ltd. owned approximately 1.66% of CMS Energy worth $300,926,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in CMS. JPMorgan Chase & Co. boosted its position in shares of CMS Energy by 6.7% during the second quarter. JPMorgan Chase & Co. now owns 16,830,525 shares of the utilities provider’s stock valued at $967,922,000 after buying an additional 1,064,151 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of CMS Energy by 316.8% during the second quarter. Nuveen Asset Management LLC now owns 1,226,800 shares of the utilities provider’s stock valued at $71,044,000 after buying an additional 932,469 shares during the last quarter. Invesco Ltd. boosted its position in shares of CMS Energy by 12.0% during the second quarter. Invesco Ltd. now owns 4,951,936 shares of the utilities provider’s stock valued at $286,766,000 after buying an additional 530,360 shares during the last quarter. Luminus Management LLC purchased a new stake in shares of CMS Energy during the second quarter valued at $25,814,000. Finally, Carillon Tower Advisers Inc. boosted its position in shares of CMS Energy by 74.1% during the second quarter. Carillon Tower Advisers Inc. now owns 1,032,775 shares of the utilities provider’s stock valued at $59,808,000 after buying an additional 439,500 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.
CMS has been the topic of several recent analyst reports. Zacks Investment Research cut CMS Energy from a “buy” rating to a “hold” rating and set a $67.00 price objective on the stock. in a research report on Monday, September 23rd. Morgan Stanley increased their target price on CMS Energy from $59.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. JPMorgan Chase & Co. lowered their target price on CMS Energy from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Wells Fargo & Co increased their target price on CMS Energy from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, August 26th. Finally, ValuEngine downgraded CMS Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $61.21.
CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, October 24th. The utilities provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.67 by $0.06. CMS Energy had a return on equity of 12.80% and a net margin of 9.03%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts anticipate that CMS Energy Co. will post 2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 1st were paid a dividend of $0.3825 per share. This represents a $1.53 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, October 31st. CMS Energy’s dividend payout ratio (DPR) is presently 65.67%.
In other news, SVP Dhenuvakonda Rao Venkat sold 750 shares of CMS Energy stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $63.44, for a total value of $47,580.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John G. Russell sold 5,600 shares of CMS Energy stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $64.04, for a total value of $358,624.00. Following the completion of the transaction, the director now owns 212,511 shares of the company’s stock, valued at approximately $13,609,204.44. The disclosure for this sale can be found here. Insiders have sold a total of 26,690 shares of company stock worth $1,660,208 in the last three months. 0.52% of the stock is owned by corporate insiders.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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