Jupiter Topco LLC purchased a new stake in shares of CMS Energy Corporation (NYSE:CMS – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 425,689 shares of the utilities provider’s stock, valued at approximately $32,569,000. Jupiter Topco LLC owned approximately 0.14% of CMS Energy as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in CMS. Hsbc Holdings PLC bought a new position in CMS Energy in the 2nd quarter valued at approximately $91,344,000. Canada Pension Plan Investment Board bought a new stake in shares of CMS Energy in the 2nd quarter worth $28,229,000. Legal & General Group Plc bought a new stake in shares of CMS Energy in the 2nd quarter worth $189,370,000. The Manufacturers Life Insurance Company purchased a new position in shares of CMS Energy in the second quarter worth $15,612,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of CMS Energy in the second quarter worth $53,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.
CMS Energy Stock Performance
CMS stock opened at $68.21 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.67. CMS Energy Corporation has a 1 year low of $67.90 and a 1 year high of $80.36. The company has a market cap of $21.39 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.48 and a beta of 0.35. The stock’s fifty day moving average price is $73.16 and its 200-day moving average price is $74.63.
CMS Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. CMS Energy’s dividend payout ratio is presently 68.47%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Jefferies Financial Group set a $78.00 price objective on CMS Energy in a research report on Thursday, July 16th. Argus reissued a “buy” rating and issued a $80.00 target price on shares of CMS Energy in a research report on Wednesday. KeyCorp cut shares of CMS Energy from an “overweight” rating to a “sector weight” rating in a research note on Thursday, July 23rd. Weiss Ratings downgraded shares of CMS Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 29th. Finally, Mizuho reduced their price target on shares of CMS Energy from $78.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.69.
Check Out Our Latest Report on CMS
CMS Energy Profile
CMS Energy (NYSE: CMS) is an energy company based in Jackson, Michigan, whose principal business is the regulated utility operations of its subsidiary, Consumers Energy. The company is primarily focused on providing electric and natural gas service to customers in Michigan, operating the generation, transmission and distribution infrastructure necessary to deliver energy to residential, commercial and industrial customers. Headquartered in Jackson, CMS Energy conducts its core activities within the state and is regulated by state utility authorities.
Through Consumers Energy and related subsidiaries, CMS Energy develops, owns and operates a portfolio of generation assets and delivers a range of customer-facing services, including electricity and natural gas supply, grid management, energy efficiency programs and demand-response offerings.
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