Fifth Third Bancorp Sells 180 Shares of CMS Energy Co. (NYSE:CMS)

Fifth Third Bancorp decreased its stake in shares of CMS Energy Co. (NYSE:CMS) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 40,864 shares of the utilities provider’s stock after selling 180 shares during the period. Fifth Third Bancorp’s holdings in CMS Energy were worth $2,373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CMS. AMI Investment Management Inc. bought a new stake in shares of CMS Energy during the 1st quarter worth about $203,000. Cetera Advisor Networks LLC boosted its holdings in shares of CMS Energy by 15.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,179 shares of the utilities provider’s stock worth $292,000 after buying an additional 555 shares during the period. Cibc World Market Inc. bought a new stake in shares of CMS Energy during the 1st quarter worth about $3,914,000. Dimensional Fund Advisors LP boosted its holdings in shares of CMS Energy by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 982,606 shares of the utilities provider’s stock worth $68,724,000 after buying an additional 56,659 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of CMS Energy by 2.6% during the 1st quarter. Blair William & Co. IL now owns 6,561 shares of the utilities provider’s stock worth $459,000 after buying an additional 168 shares during the period. Institutional investors own 93.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. BMO Capital Markets cut their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Guggenheim raised shares of CMS Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $64.00 in a report on Friday, February 2nd. KeyCorp boosted their price objective on shares of CMS Energy from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Finally, Barclays boosted their price objective on shares of CMS Energy from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, CMS Energy presently has a consensus rating of “Moderate Buy” and an average target price of $62.09.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the transaction, the senior vice president now directly owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $59.33 on Thursday. The firm has a 50 day moving average of $58.01 and a 200-day moving average of $56.86. The stock has a market capitalization of $17.72 billion, a PE ratio of 19.87, a PEG ratio of 2.32 and a beta of 0.38. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. CMS Energy Co. has a 12 month low of $49.87 and a 12 month high of $63.76.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. On average, equities research analysts predict that CMS Energy Co. will post 3.34 EPS for the current fiscal year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Monday, February 12th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.47%. This is a boost from CMS Energy’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, February 9th. CMS Energy’s dividend payout ratio is currently 68.44%.

About CMS Energy

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.