Trading Report: The CMS Energy Corp. (CMS) Releases Earnings Results, Beats Estimates By $0.10 EPS

The CMS Energy Corp. (CMS) Releases  Earnings Results, Beats Estimates By $0.10 EPS

CMS Energy Corp. (NYSE:CMS) posted its earnings results on Thursday. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.60 by $0.10. CMS Energy Corp. had a net margin of 9.25% and a return on equity of 13.88%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.53 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. CMS Energy Corp. updated its FY16 guidance to $2.00-2.02 EPS and its FY17 guidance to $2.13-2.17 EPS.

Shares of CMS Energy Corp. (NYSE:CMS) opened at 41.30 on Monday. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 19.85 and a beta of 0.12. CMS Energy Corp. has a 52 week low of $33.84 and a 52 week high of $46.25. The firm’s 50-day moving average is $41.70 and its 200-day moving average is $42.61.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Friday, November 4th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.00%. CMS Energy Corp.’s dividend payout ratio (DPR) is presently 59.33%.

CMS has been the topic of several recent research reports. Zacks Investment Research upgraded shares of CMS Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a research report on Wednesday, October 19th. Scotiabank started coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They set a “sector perform” rating and a $46.00 price target for the company. SunTrust Banks Inc. lowered their price target on shares of CMS Energy Corp. from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, August 29th. Howard Weil started coverage on shares of CMS Energy Corp. in a report on Friday, July 15th. They set a “sector perform” rating and a $46.00 price target for the company. Finally, BMO Capital Markets restated a “buy” rating on shares of CMS Energy Corp. in a report on Friday, July 29th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $43.75.

In other CMS Energy Corp. news, SVP Catherine M. Reynolds sold 11,032 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $43.59, for a total value of $480,884.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian F. Rich sold 2,135 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 49,330 shares of the company’s stock, valued at approximately $2,129,576.10. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of CMS. JPMorgan Chase & Co. raised its stake in shares of CMS Energy Corp. by 1.5% in the second quarter. JPMorgan Chase & Co. now owns 21,112,568 shares of the company’s stock valued at $968,220,000 after buying an additional 305,407 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of CMS Energy Corp. by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 18,578,571 shares of the company’s stock valued at $852,013,000 after buying an additional 630,774 shares in the last quarter. State Street Corp raised its stake in shares of CMS Energy Corp. by 0.4% in the second quarter. State Street Corp now owns 14,369,725 shares of the company’s stock valued at $659,004,000 after buying an additional 59,357 shares in the last quarter. Capital Research Global Investors raised its stake in shares of CMS Energy Corp. by 12.7% in the second quarter. Capital Research Global Investors now owns 9,526,366 shares of the company’s stock valued at $436,879,000 after buying an additional 1,072,066 shares in the last quarter. Finally, Standard Life Investments LTD raised its stake in shares of 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. 89.09% of the stock is owned by institutional investors and hedge funds.

About CMS Energy Corp.

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