KeyCorp Comments on CMS Energy Co.’s FY2020 Earnings (NYSE:CMS)

CMS Energy Co. (NYSE:CMS) – Equities research analysts at KeyCorp issued their FY2020 earnings per share estimates for shares of CMS Energy in a note issued to investors on Tuesday, June 4th, Zacks Investment Research reports. KeyCorp analyst S. Karp expects that the utilities provider will post earnings of $2.59 per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for CMS Energy’s FY2021 earnings at $2.83 EPS.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.96 billion. CMS Energy had a net margin of 9.01% and a return on equity of 13.16%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut CMS Energy from a “hold” rating to a “sell” rating in a report on Monday, March 25th. Barclays reiterated a “hold” rating and issued a $61.00 target price on shares of CMS Energy in a report on Thursday, June 20th. Morgan Stanley upped their target price on CMS Energy from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Credit Suisse Group set a $58.00 target price on CMS Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Bank of America raised CMS Energy from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. CMS Energy presently has a consensus rating of “Hold” and a consensus target price of $55.85.

Shares of CMS stock traded up $0.40 during mid-day trading on Thursday, hitting $57.91. The stock had a trading volume of 2,563,105 shares, compared to its average volume of 2,300,141. CMS Energy has a 12-month low of $46.25 and a 12-month high of $59.34. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 3.61 and a beta of 0.17. The stock has a 50-day moving average of $57.27. The company has a quick ratio of 0.92, a current ratio of 1.13 and a debt-to-equity ratio of 2.29.

A number of large investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. boosted its stake in shares of CMS Energy by 71.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 673,609 shares of the utilities provider’s stock worth $37,412,000 after buying an additional 281,633 shares during the last quarter. Horizon Investments LLC boosted its stake in shares of CMS Energy by 9.1% in the first quarter. Horizon Investments LLC now owns 27,284 shares of the utilities provider’s stock worth $1,505,000 after buying an additional 2,267 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of CMS Energy by 50.8% in the first quarter. Nordea Investment Management AB now owns 23,129 shares of the utilities provider’s stock worth $1,285,000 after buying an additional 7,794 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of CMS Energy in the first quarter worth about $2,251,000. Finally, Marshall Wace LLP purchased a new stake in shares of CMS Energy in the first quarter worth about $137,000. 91.98% of the stock is currently owned by institutional investors.

In related news, Director John G. Russell sold 16,800 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $55.35, for a total transaction of $929,880.00. Following the transaction, the director now directly owns 299,196 shares of the company’s stock, valued at approximately $16,560,498.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Catherine A. Hendrian sold 1,753 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $56.96, for a total value of $99,850.88. Following the transaction, the insider now directly owns 37,567 shares in the company, valued at $2,139,816.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,256 shares of company stock valued at $1,835,676. Corporate insiders own 0.52% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 3rd were given a $0.3825 dividend. This represents a $1.53 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, May 2nd. CMS Energy’s payout ratio is 65.67%.

CMS Energy Company Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.

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