6,396 Shares in CMS Energy Co. (NYSE:CMS) Purchased by Jump Financial LLC

Posted by Defense World Staff on Aug 8th, 2023

Jump Financial LLC acquired a new stake in CMS Energy Co. (NYSE:CMS – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,396 shares of the utilities provider’s stock, valued at approximately $393,000.

Several other institutional investors and hedge funds have also made changes to their positions in CMS. Covington Capital Management purchased a new position in CMS Energy during the third quarter worth approximately $27,000. Pinebridge Investments L.P. purchased a new position in CMS Energy in the fourth quarter valued at $29,000. Spirit of America Management Corp NY purchased a new stake in CMS Energy during the 1st quarter worth about $34,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of CMS Energy in the 1st quarter valued at about $37,000. Finally, BerganKDV Wealth Management LLC increased its stake in shares of CMS Energy by 1,614.6% during the fourth quarter. BerganKDV Wealth Management LLC now owns 823 shares of the utilities provider’s stock worth $52,000 after buying an additional 775 shares during the period. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CMS Energy

In other CMS Energy news, SVP Catherine A. Hendrian sold 7,500 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $60.26, for a total value of $451,950.00. Following the completion of the transaction, the senior vice president now directly owns 48,436 shares in the company, valued at approximately $2,918,753.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CMS shares. BMO Capital Markets dropped their price objective on shares of CMS Energy from $70.00 to $64.00 in a research report on Friday, May 19th. TheStreet raised CMS Energy from a “c+” rating to a “b-” rating in a report on Tuesday, April 11th. UBS Group upgraded CMS Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $63.00 to $68.00 in a report on Tuesday, June 6th. Mizuho decreased their target price on CMS Energy from $68.00 to $65.00 in a research note on Monday, June 5th. Finally, StockNews.com started coverage on shares of CMS Energy in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.60.

Read Our Latest Stock Analysis on CMS

CMS Energy Stock Down 0.3 %

CMS opened at $57.54 on Tuesday. The business has a 50 day simple moving average of $59.98 and a 200-day simple moving average of $60.59. CMS Energy Co. has a 12 month low of $52.41 and a 12 month high of $71.19. The stock has a market capitalization of $16.79 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.38 and a beta of 0.36. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.95 and a quick ratio of 0.63.

CMS Energy (NYSE:CMS – Get Free Report) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. CMS Energy had a return on equity of 10.38% and a net margin of 9.07%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the company earned $0.53 earnings per share. CMS Energy’s quarterly revenue was down 19.0% compared to the same quarter last year. On average, equities analysts anticipate that CMS Energy Co. will post 3.1 earnings per share for the current fiscal year.

CMS Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 4th will be paid a dividend of $0.4875 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.95 annualized dividend and a dividend yield of 3.39%. CMS Energy’s dividend payout ratio is currently 78.00%.

CMS Energy Company Profile

(Free Report)

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.