Credit Suisse AG Cuts Holdings in CMS Energy Co. (NYSE:CMS)

Posted by Defense World Staff on Aug 21st, 2023

Credit Suisse AG decreased its position in shares of CMS Energy Co. (NYSE:CMS – Free Report) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 833,300 shares of the utilities provider’s stock after selling 3,885 shares during the period. Credit Suisse AG owned approximately 0.29% of CMS Energy worth $51,148,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Covington Capital Management purchased a new position in shares of CMS Energy during the third quarter valued at about $27,000. Pinebridge Investments L.P. purchased a new position in shares of CMS Energy during the fourth quarter valued at about $29,000. Spirit of America Management Corp NY bought a new position in shares of CMS Energy in the 1st quarter valued at about $34,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of CMS Energy in the 1st quarter valued at about $37,000. Finally, Focused Wealth Management Inc bought a new position in shares of CMS Energy in the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CMS shares. Guggenheim lowered their price target on shares of CMS Energy from $65.00 to $61.00 in a report on Friday, July 7th. Morgan Stanley increased their price target on shares of CMS Energy from $61.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, July 21st. BMO Capital Markets lowered their price target on shares of CMS Energy from $70.00 to $64.00 in a report on Friday, May 19th. StockNews.com initiated coverage on shares of CMS Energy in a report on Thursday. They issued a “sell” rating for the company. Finally, UBS Group raised shares of CMS Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $63.00 to $68.00 in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.60.

Read Our Latest Report on CMS

CMS Energy Stock Performance

CMS Energy stock opened at $56.93 on Monday. The company has a 50 day moving average price of $59.64 and a 200-day moving average price of $60.22. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.63 and a current ratio of 0.95. CMS Energy Co. has a fifty-two week low of $52.41 and a fifty-two week high of $71.19. The company has a market capitalization of $16.61 billion, a PE ratio of 22.77, a P/E/G ratio of 2.35 and a beta of 0.36.

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

CMS Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 4th will be issued a dividend of $0.4875 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.95 dividend on an annualized basis and a yield of 3.43%. CMS Energy’s dividend payout ratio is currently 78.00%.

Insiders Place Their Bets

In other CMS Energy news, Director Jon E. Barfield sold 2,345 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $56.06, for a total transaction of $131,460.70. Following the completion of the sale, the director now owns 13,982 shares in the company, valued at $783,830.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other CMS Energy news, Director Jon E. Barfield sold 2,345 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $56.06, for a total transaction of $131,460.70. Following the completion of the sale, the director now owns 13,982 shares in the company, valued at $783,830.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Catherine A. Hendrian sold 7,500 shares of the company’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 sale, the senior vice president now owns 48,436 shares of the company’s stock, valued at approximately $2,918,753.36. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

CMS Energy 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.