John G. Russell, a director at CMS Energy Corp (NYSE:CMS), recently sold a significant portion of his holdings in the company. On December 19, 2024, Russell sold 28,750 shares of CMS Energy common stock at a price of $65.85 per share. This transaction amounted to a total value of approximately $1.89 million. The sale occurred as CMS Energy, with a market capitalization of $19.8 billion, trades near its 52-week high of $72.40. According to InvestingPro analysis, the stock currently appears to be trading above its Fair Value.
Following this sale, Russell retains ownership of 144,059 shares in CMS Energy. The transaction was part of an exchange fund agreement, where Russell contributed CMS shares in return for shares of the exchange fund. The valuation of CMS common stock for this exchange was also set at $65.85 per share. The company maintains strong fundamentals, with InvestingPro data showing an impressive 18-year streak of dividend payments and a current dividend yield of 3.13%.
Additionally, Russell’s total holdings reflect an adjustment due to the automatic acquisition of 67 additional Restricted Stock Units, which were purchased in lieu of cash dividends as part of the CMS Performance Incentive Stock Plan. The company’s financial health is rated as ’FAIR’ by InvestingPro, which offers comprehensive analysis including 7 additional ProTips and detailed valuation metrics in its Pro Research Report.
In other recent news, CMS Energy reported a robust third quarter financial performance, with adjusted earnings per share (EPS) rising to $2.47, an increase from the previous year. The company 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 initiated coverage on CMS Energy, assigning a Buy rating with a price target of $76, indicating a potential total shareholder return of approximately 15%. BMO Capital Markets, despite reducing its price target to $76 from $77, maintained an Outperform rating on the stock. These are recent developments, highlighting positive analyst sentiment and solid earnings performance. CMS Energy also announced plans to file a 20-year renewable energy plan in line with Michigan’s clean energy targets. However, rising costs in insurance and IT are expected to result in a $0.15 per share negative variance. Despite these challenges, the company maintains a positive outlook, supported by strong capacity and energy market results.
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