Hedeker Wealth LLC acquired a new stake in shares of CMS Energy Corp. (NYSE:CMS) during the second quarter, Holdings Channel reports. The institutional investor acquired 60,150 shares of the company’s stock, valued at approximately $2,758,000. CMS Energy Corp. makes up about 2.4% of Hedeker Wealth LLC’s portfolio, making the stock its 3rd largest position.
Several other large investors have also recently bought and sold shares of the stock. PGGM Investments increased its stake in CMS Energy Corp. by 298.8% in the second quarter. PGGM Investments now owns 941,700 shares of the company’s stock valued at $43,186,000 after buying an additional 705,588 shares in the last quarter. Standard Life Investments LTD increased its stake in CMS Energy Corp. by 22.3% in the second quarter. Standard Life Investments LTD now owns 7,943,113 shares of the company’s stock valued at $364,192,000 after buying an additional 1,449,503 shares in the last quarter. First Republic Investment Management Inc. increased its stake in CMS Energy Corp. by 72.4% in the first quarter. First Republic Investment Management Inc. now owns 17,423 shares of the company’s stock valued at $739,000 after buying an additional 7,315 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in CMS Energy Corp. during the first quarter valued at about $3,727,000. Finally, Monarch Partners Asset Management LLC increased its stake in CMS Energy Corp. by 94.0% in the second quarter. Monarch Partners Asset Management LLC now owns 316,819 shares of the company’s stock valued at $14,529,000 after buying an additional 153,510 shares in the last quarter. Hedge funds and other institutional investors own 89.09% of the company’s stock.
CMS Energy Corp. (NYSE:CMS) traded down 0.37% on Friday, hitting $40.70. The stock had a trading volume of 1,449,634 shares. CMS Energy Corp. has a one year low of $33.84 and a one year high of $46.25. The company’s 50-day moving average is $42.01 and its 200-day moving average is $42.67. The stock has a market cap of $11.36 billion, a P/E ratio of 20.86 and a beta of 0.12.
CMS Energy Corp. (NYSE:CMS) last issued its earnings results on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.09. CMS Energy Corp. had a return on equity of 13.34% and a net margin of 8.79%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that CMS Energy Corp. will post $2.02 earnings per share for the current fiscal year.
CMS has been the topic of several research analyst reports. SunTrust Banks Inc. boosted their price objective on CMS Energy Corp. from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, September 26th. BMO Capital Markets reiterated a “buy” rating on shares of CMS Energy Corp. in a report on Friday, July 29th. KeyCorp reiterated an “outperform” rating and issued a $47.00 price objective (up previously from $45.00) on shares of CMS Energy Corp. in a report on Saturday, July 2nd. Zacks Investment Research upgraded CMS Energy Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Thursday, July 14th. Finally, Scotiabank initiated coverage on CMS Energy Corp. in a report on Friday, July 15th. They set a “sector perform” rating and a $46.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $43.95.
In related news, SVP Brian F. Rich sold 2,135 shares of CMS Energy Corp. stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $43.17, for a total value of $92,167.95. Following the transaction, the senior vice president now owns 49,330 shares in the company, valued at $2,129,576.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon E. Barfield sold 9,568 shares of CMS Energy Corp. stock in a transaction on Friday, August 26th. The shares were sold at an average price of $42.97, for a total value of $411,136.96. Following the completion of the transaction, the director now owns 23,256 shares in the company, valued at approximately $999,310.32. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.
CMS Energy Corp. Company Profile
CMS Energy Corporation (CMS Energy) is an energy company operating primarily in Michigan. The Company operates in three segments, which include Consumers Electric Utility, Consumers Gas Utility and Enterprises (non-utility operations and investments). CMS Energy, through its subsidiaries and equity investments, is engaged primarily in independent power production and owns power generation facilities fueled by natural gas and biomass.
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