CMS Energy Corporation $CMS Stock Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in CMS Energy Corporation (NYSE:CMS) by 387.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 78,501 shares of the utilities provider’s stock after acquiring an additional 62,395 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CMS Energy were worth $4,952,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Avion Wealth grew its position in CMS Energy by 139.3% during the third quarter. Avion Wealth now owns 390 shares of the utilities provider’s stock worth $25,000 after buying an additional 227 shares in the last quarter. Kilter Group LLC bought a new position in CMS Energy in the 2nd quarter worth about $26,000. Independence Bank of Kentucky purchased a new stake in shares of CMS Energy in the 3rd quarter valued at about $27,000. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of CMS Energy in the 3rd quarter valued at about $30,000. Finally, Scarborough Advisors LLC bought a new stake in shares of CMS Energy during the 1st quarter valued at about $31,000. Institutional investors own 93.57% of the company’s stock.

Analysts Set New Price Targets

CMS has been the subject of several research reports. Barclays cut their target price on shares of CMS Energy from $81.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Truist Financial dropped their target price on CMS Energy from $81.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. Morgan Stanley cut their target price on CMS Energy from $77.00 to $73.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 21st. Royal Bank Of Canada set a $73.00 target price on CMS Energy in a research note on Tuesday, October 6th. Finally, Mizuho reduced their price target on shares of CMS Energy from $78.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.35.

CMS Energy Trading Down 0.6%

Shares of CMS opened at $69.22 on Friday. The firm’s 50-day moving average price is $67.05 and its 200-day moving average price is $72.47. The firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 2.54 and a beta of 0.31. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 1.88. CMS Energy Corporation has a 1-year low of $62.28 and a 1-year high of $80.36.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.09. CMS Energy had a return on equity of 12.28% and a net margin of 9.72%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that CMS Energy Corporation will post 3.87 EPS for the current year.

CMS Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 6th. CMS Energy’s dividend payout ratio (DPR) is 81.43%.

About CMS Energy

CMS Energy is a Michigan-based energy company and the parent of Consumers Energy, a regulated utility that provides electricity and natural gas to homes and businesses across Michigan’s Lower Peninsula. Consumers Energy serves customers in all 68 counties in the peninsula. Through Consumers Energy, the company generates, purchases, transmits and distributes electricity, and supplies natural gas. Its operations include maintaining utility infrastructure and developing energy resources, including renewable generation, to support the region’s energy needs.