CMS Energy Co. (NYSE:CMS) – Equities researchers at KeyCorp lowered their FY2021 earnings per share estimates for CMS Energy in a research report issued on Wednesday, November 24th. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $2.65 per share for the year, down from their previous forecast of $2.80.
CMS Energy (NYSE:CMS) last released its quarterly earnings data on Wednesday, October 27th. The utilities provider reported $0.54 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.63 billion. CMS Energy had a return on equity of 13.05% and a net margin of 12.17%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share.
CMS opened at $61.04 on Thursday. The company has a market cap of $17.68 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.30 and a beta of 0.22. The business’s 50-day moving average price is $60.51 and its 200-day moving average price is $61.64. The company has a current ratio of 0.76, a quick ratio of 0.53 and a debt-to-equity ratio of 1.88. CMS Energy has a 12 month low of $53.19 and a 12 month high of $65.79.
Institutional investors and hedge funds have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC bought a new position in CMS Energy in the 3rd quarter valued at approximately $57,000. Liontrust Investment Partners LLP bought a new position in CMS Energy in the 3rd quarter valued at approximately $608,000. Bank of New York Mellon Corp lifted its position in CMS Energy by 7.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,505,480 shares of the utilities provider’s stock valued at $328,841,000 after acquiring an additional 370,081 shares in the last quarter. Gyon Technologies Capital Management LP bought a new position in CMS Energy in the 3rd quarter valued at approximately $795,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in CMS Energy in the 3rd quarter valued at approximately $459,000. 90.31% of the stock is currently owned by hedge funds and other institutional investors.
In other CMS Energy news, SVP Jean-Francois Brossoit sold 770 shares of CMS Energy stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $64.82, for a total transaction of $49,911.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Brian F. Rich sold 3,500 shares of CMS Energy stock in a transaction that occurred on Wednesday, November 17th. The shares were sold at an average price of $60.32, for a total value of $211,120.00. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 30th. Investors of record on Friday, November 5th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Thursday, November 4th. This represents a $1.74 dividend on an annualized basis and a yield of 2.85%. CMS Energy’s dividend payout ratio is presently 57.81%.
CMS Energy Company Profile
CMS Energy Corp. is a holding company, which engages in business through its subsidiaries. It operates through the following business segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution and sale of electricity.
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