CMS Energy Corporation $CMS Stock: Retirement Systems of Alabama Increases Position

Retirement Systems of Alabama increased its holdings in shares of CMS Energy Corporation (NYSE:CMS) by 225.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,581,870 shares of the utilities provider’s stock after buying an additional 1,096,475 shares during the quarter. Retirement Systems of Alabama’s holdings in CMS Energy were worth $99,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new position in shares of CMS Energy during the second quarter valued at about $363,388,000. Pictet Asset Management Holding SA grew its position in CMS Energy by 5.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 4,490,347 shares of the utilities provider’s stock worth $283,251,000 after purchasing an additional 221,813 shares during the last quarter. Magellan Asset Management Ltd acquired a new position in CMS Energy during the 2nd quarter valued at approximately $194,237,000. Legal & General Group Plc acquired a new position in CMS Energy during the 2nd quarter valued at approximately $189,370,000. Finally, Dimensional Fund Advisors LP increased its stake in CMS Energy by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,581,115 shares of the utilities provider’s stock valued at $122,657,000 after purchasing an additional 50,475 shares in the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

CMS Energy Stock Performance

CMS opened at $69.44 on Tuesday. CMS Energy Corporation has a 12-month low of $62.28 and a 12-month high of $80.36. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $21.78 billion, a PE ratio of 24.80, a P/E/G ratio of 2.59 and a beta of 0.31. The firm has a 50 day moving average of $66.96 and a two-hundred day moving average of $72.49.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.35 by $0.09. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.23 billion. CMS Energy had a net margin of 9.72% and a return on equity of 12.28%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 EPS. On average, analysts anticipate that CMS Energy Corporation will post 3.87 EPS for the current year.

CMS Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend 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%.

Analysts Set New Price Targets

Several research firms have recently commented on CMS. Mizuho lowered their price objective on shares of CMS Energy from $78.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Argus reissued a “buy” rating and issued a $80.00 target price on shares of CMS Energy in a research report on Wednesday, August 26th. Scotiabank restated a “sector outperform” rating and issued a $78.00 target price on shares of CMS Energy in a research note on Thursday, October 1st. BMO Capital Markets raised their target price on CMS Energy from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, October 19th. Finally, JPMorgan Chase & Co. lifted their price target on CMS Energy from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.35.

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.

CMS Energy was formed as a holding company in 1987 and is headquartered in Jackson, Michigan.