Seven Eight Capital LP Invests $820,000 in CMS Energy Co. (NYSE:CMS)

Seven Eight Capital LP acquired a new position in CMS Energy Co. (NYSE:CMS) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,597 shares of the utilities provider’s stock, valued at approximately $820,000.

Several other institutional investors have also recently made changes to their positions in CMS. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of CMS Energy by 320.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock worth $250,026,000 after purchasing an additional 3,282,697 shares during the period. JPMorgan Chase & Co. raised its stake in CMS Energy by 14.0% during the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after acquiring an additional 2,786,071 shares during the period. Norges Bank bought a new stake in CMS Energy during the 4th quarter worth approximately $111,004,000. Capital International Investors raised its stake in CMS Energy by 24.8% during the 4th quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock worth $360,537,000 after acquiring an additional 1,234,791 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in CMS Energy by 34.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,456,713 shares of the utilities provider’s stock worth $200,731,000 after acquiring an additional 883,180 shares during the period. Institutional investors own 93.57% of the company’s stock.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 1,667 shares of CMS Energy stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $59.98, for a total transaction of $99,986.66. Following the completion of the sale, the senior vice president now directly owns 68,330 shares in the company, valued at $4,098,433.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Brandon J. Hofmeister sold 1,667 shares of CMS Energy stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now directly owns 68,330 shares in the company, valued at $4,098,433.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian F. Rich sold 2,000 shares of CMS Energy stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total value of $122,200.00. Following the completion of the sale, the senior vice president now owns 97,682 shares of the company’s stock, valued at $5,968,370.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,027 shares of company stock worth $365,651. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research note on Thursday, April 4th. Morgan Stanley cut their price objective on shares of CMS Energy from $61.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Scotiabank cut their target price on shares of CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. KeyCorp raised their target price on shares of CMS Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, Barclays raised their target price on shares of CMS Energy from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.20.

CMS Energy Trading Down 0.0 %

CMS traded down $0.02 during trading on Tuesday, reaching $61.42. The company had a trading volume of 1,488,901 shares, compared to its average volume of 2,374,999. The stock has a market cap of $18.34 billion, a P/E ratio of 18.80, a PEG ratio of 2.44 and a beta of 0.38. The business has a 50 day simple moving average of $60.69 and a 200-day simple moving average of $59.35. CMS Energy Co. has a 52 week low of $49.87 and a 52 week high of $63.76. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 1.82.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.32 billion. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. CMS Energy’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. On average, equities analysts anticipate that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 3.32%. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

CMS Energy Profile

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.