CMS Energy Corporation (NYSE:CMS) Shares Acquired by Truist Financial Corp

Truist Financial Corp raised its holdings in shares of CMS Energy Corporation (NYSE:CMS) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,757,747 shares of the utilities provider’s stock after acquiring an additional 136,185 shares during the period. Truist Financial Corp owned approximately 0.59% of CMS Energy worth $132,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC lifted its stake in CMS Energy by 2,900.0% during the 4th quarter. Larson Financial Group LLC now owns 720 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 696 shares during the period. Optiver Holding B.V. lifted its stake in CMS Energy by 39.2% during the 4th quarter. Optiver Holding B.V. now owns 813 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 229 shares during the period. Mizuho Bank Ltd. acquired a new position in shares of CMS Energy in the 4th quarter valued at $61,000. Bernard Wealth Management Corp. acquired a new position in shares of CMS Energy in the 1st quarter valued at $72,000. Finally, NBC Securities Inc. acquired a new position in shares of CMS Energy in the 1st quarter valued at $75,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Brandon J. Hofmeister sold 2,198 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $73.61, for a total transaction of $161,794.78. Following the completion of the sale, the senior vice president owned 69,571 shares of the company’s stock, valued at $5,121,121.31. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of CMS Energy from $77.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. UBS Group boosted their target price on shares of CMS Energy from $77.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Wall Street Zen upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company boosted their target price on shares of CMS Energy from $78.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Evercore ISI boosted their target price on shares of CMS Energy from $73.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.00.

CMS Energy Price Performance

Shares of NYSE CMS opened at $70.44 on Friday. The firm has a market cap of $21.07 billion, a PE ratio of 20.90, a PEG ratio of 2.51 and a beta of 0.38. The firm has a fifty day moving average of $70.52 and a 200 day moving average of $70.19. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.84 and a current ratio of 1.06. CMS Energy Corporation has a one year low of $58.50 and a one year high of $76.45.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, April 24th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.03). CMS Energy had a return on equity of 12.06% and a net margin of 13.10%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the company earned $0.97 EPS. CMS Energy’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, research analysts predict that CMS Energy Corporation will post 3.59 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 9th were issued a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, May 9th. CMS Energy’s payout ratio is 64.39%.

CMS Energy Profile

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