As of September 10, 2023, Logan Capital Management Inc. revealed in its most recent filing with the Securities & Exchange Commission that it has increased its stake in CMS Energy Co. (NYSE:CMS) by 26.8% during the first quarter. The firm now owns 94,666 shares of CMS Energy’s stock after acquiring an additional 20,013 shares in this period. These holdings are valued at $5,811,000 according to the most recent SEC filing.
CMS Energy recently disclosed its earnings results on Thursday, July 27th. In the second quarter, the utilities provider reported earnings per share (EPS) of $0.75, surpassing analysts’ consensus estimates of $0.69 by $0.06. Despite this positive outcome, CMS Energy’s quarterly revenue was recorded at $1.56 billion which is significantly lower than analyst projections of $2.04 billion.
The company’s net margin stood at 9.07%, and its return on equity recorded a modest figure of 10.38%. When comparing these figures to the previous year’s results for the same quarter, it is evident that CMS Energy experienced a decline in revenue by 19%. In contrast, during the corresponding period in the prior year, CMS Energy reported EPS of $0.53.
Equities analysts are forecasting that CMS Energy Co.’s earnings per share for the current fiscal year will reach approximately 3.1 units.
This recent development showcases Logan Capital Management’s confidence in CMS Energy as it continues to invest and expand its stake in the utilities provider’s stock market performance throughout the first quarter of this year.
While CMS Energy’s quarterly financial report showed positive EPS results despite falling short on revenue expectations set by industry analysts; it is important to note that fluctuations within this sector can be influenced by various external factors such as regulatory changes or adverse weather conditions impacting energy consumption patterns.
Investors and industry stakeholders will continue to monitor CMS Energy’s performance closely as it progresses throughout the fiscal year. As an important player in the utilities sector, CMS Energy’s ability to navigate these challenges will be crucial in determining its long-term success and attractiveness as a potential investment option.
It is advisable for individuals considering investing in CMS Energy or any other stock option to conduct thorough research, evaluate the company’s financial standing, and seek advice from trusted financial advisors before making any investment decisions.
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Institutional Investors Show Confidence in CMS Energy with Significant Stake Purchases
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”OHI” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Institutional investors have made significant changes to their positions in CMS Energy, a renowned utilities provider. Covington Capital Management purchased a new stake in CMS Energy shares during the third quarter of this year, valuing it at $27,000. Similarly, Pinebridge Investments L.P. acquired a stake in the company during the fourth quarter last year, priced at $29,000. Adding to this list, Spirit of America Management Corp NY invested $34,000 for a new stake in CMS Energy shares during the first quarter of 2023. Clear Street Markets LLC also increased its stake in CMS Energy by 94.9% during this same period.
With regards to ownership distribution, hedge funds and other institutional investors hold an overwhelming 95.98% of CMS Energy stock. This demonstrates the strong interest and confidence that major financial institutions have placed on this utilities provider.
As of September 10, 2023, shares of CMS Energy opened at $55.97 on Friday. The company currently has a market capitalization of $16.33 billion with a relatively modest PE ratio of 22.39 and price-to-earnings-growth ratio of 2.30. Additionally, CMS Energy boasts a beta value of 0.37 which highlights its lower volatility compared to the broader market.
Notable averages for CMS Energy include its 50-day simple moving average standing at $58.56 and its 200-day simple moving average at $59.64 respectively. These averages indicate the overall trend and provide technical insight into potential future movements for interested investors.
CMS Energy maintains a debt-to-equity ratio of 1.87 alongside a quick ratio of 0.63 and current ratio of 0.95 as reported by recent filings with regulatory authorities.
Further noteworthy information pertains to CMS Energy’s dividend policy as they recently disclosed their quarterly dividend payment activity on August 31st with investors who were recorded as shareholders on August 4th. Shareholders enjoyed a dividend payout of $0.4875 per share. The ex-dividend date for this particular payment was August 3rd, representing CMS Energy’s commitment to returning value to its investors. This announcement equates to an annualized dividend of $1.95, conveying a notable yield of 3.48%. It is essential to note that CMS Energy retains a high dividend payout ratio (DPR) of approximately 78.00%.
Analysts from several reputable agencies have also expressed their thoughts on CMS Energy’s stock performance and prospects in recent reports. Barclays initiated coverage on the company, assigning it an “equal weight” rating and establishing a price target of $58.00 per share. BMO Capital Markets decreased the price target from $69.00 to $62.00 while maintaining an “outperform” rating for CMS Energy in their analysis on August 31st.
StockNews.com initiated coverage on CMS Energy with a “sell” rating while Guggenheim lowered their price target from $65.00 to $61.00 in their research report released on July 7th.
With varying opinions, it is worth noting that one investment analyst has rated CMS Energy stock as a sell, three analysts have assigned a hold rating, and seven analysts have given it a buy rating overall.
In summary, this article has provided information regarding recent changes made by institutional investors in relation to their positions in CMS Energy shares. Furthermore, it has highlighted key statistics such as market capitalization, PE ratio, average prices, and debt ratios associated with the company’s stock performance. Finally, opinions offered by esteemed brokerages shed light on the current sentiment surrounding CMS Energy within the investment community based on its moderate buy consensus rating and consensus target price of $63.73 according to Bloomberg.com data at the time of writing in September 2023.
