Flputnam Investment Management Co. acquired a new position in shares of CMS Energy Corporation (NYSE:CMS – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor acquired 50,096 shares of the utilities provider’s stock, valued at approximately $3,832,000.
A number of other large investors also recently made changes to their positions in CMS. Kilter Group LLC acquired a new position in CMS Energy in the 2nd quarter valued at $26,000. Elyxium Wealth LLC acquired a new stake in shares of CMS Energy during the fourth quarter worth $29,000. DV Equities LLC acquired a new stake in shares of CMS Energy during the fourth quarter worth $29,000. MidFirst Bank bought a new stake in shares of CMS Energy in the fourth quarter valued at about $31,000. Finally, Scarborough Advisors LLC bought a new stake in shares of CMS Energy in the first quarter valued at about $31,000. Institutional investors own 93.57% of the company’s stock.
CMS Energy Price Performance
CMS stock opened at $68.21 on Monday. The firm has a 50-day moving average price of $73.16 and a 200-day moving average price of $74.65. CMS Energy Corporation has a 12 month low of $67.90 and a 12 month high of $80.36. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $21.39 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.47 and a beta of 0.35.
CMS Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 7th. CMS Energy’s dividend payout ratio is currently 68.47%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of CMS Energy from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Barclays boosted their price objective on shares of CMS Energy from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings cut shares of CMS Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 29th. Morgan Stanley dropped their price target on shares of CMS Energy from $80.00 to $79.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. Finally, Wall Street Zen upgraded CMS Energy from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 5th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, CMS Energy presently has an average rating of “Moderate Buy” and a consensus target price of $81.69.
About CMS Energy
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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