In a recent filing with the Securities and Exchange Commission, CMS Energy Corp (NYSE:CMS), a $19.9 billion utility company known for its stable performance and 18-year track record of consecutive dividend increases, reported that Senior Vice President Brandon J. Hofmeister sold 2,000 shares of the company's common stock. The shares were sold at an average price of $67.22 each, totaling approximately $134,442. Following this transaction, Hofmeister holds 63,197 shares directly. Additionally, he maintains an indirect interest in one share held in a custodial account for his son. According to InvestingPro, CMS Energy trades with notably low price volatility and maintains a Fair overall financial health rating. For comprehensive insider trading analysis and 7 additional key insights about CMS Energy, consider exploring InvestingPro's detailed research report.
The transaction was part of a broader adjustment that included dividend reinvestment and automatic acquisition of restricted stock units, as detailed in the footnotes of the filing. The company currently offers a 3.1% dividend yield, reflecting its commitment to shareholder returns.
In other recent news, CMS Energy has reported a robust financial performance in the third quarter, with adjusted earnings per share (EPS) climbing to $2.47, an increase of $0.41 from the previous year. The company has confirmed its EPS guidance for 2024 to be between $3.29 and $3.35 and introduced its 2025 guidance, projecting an EPS of $3.52 to $3.58. Jefferies has initiated coverage on CMS Energy with a Buy rating and a price target of $76.00, anticipating a 7.5% compound annual growth rate (CAGR) in earnings per share (EPS). Despite these positive developments, BMO Capital Markets has adjusted its price target on CMS Energy shares, reducing it to $76 from the previous $77 while maintaining an Outperform rating. In addition, CMS Energy has announced plans to file a 20-year renewable energy plan to align with Michigan's clean energy targets. However, rising costs in insurance and IT are anticipated to result in a $0.15 per share negative variance. These are among the recent developments for CMS Energy.
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