Pictet Asset Management Holding SA Acquires 221,813 Shares of CMS Energy Corporation $CMS

Pictet Asset Management Holding SA grew its stake in shares of CMS Energy Corporation (NYSE:CMS) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,490,347 shares of the utilities provider’s stock after buying an additional 221,813 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CMS Energy were worth $283,251,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Kilter Group LLC bought a new stake in shares of CMS Energy in the 2nd quarter valued at about $26,000. Independence Bank of Kentucky purchased a new stake in CMS Energy during the 3rd quarter valued at about $27,000. Pension & Wealth Management Advisors Inc. purchased a new stake in CMS Energy during the 3rd quarter valued at about $30,000. Scarborough Advisors LLC purchased a new stake in CMS Energy during the 1st quarter valued at about $31,000. Finally, Trust Co. of Vermont bought a new position in CMS Energy during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CMS. HSBC started coverage on CMS Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $69.00 price target on the stock. Barclays dropped their price objective on CMS Energy from $81.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Scotiabank restated a “sector outperform” rating and issued a $78.00 target price on shares of CMS Energy in a report on Thursday, October 1st. Morgan Stanley decreased their target price on shares of CMS Energy from $77.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 21st. Finally, Truist Financial lowered their price target on shares of CMS Energy from $81.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, CMS Energy currently has a consensus rating of “Hold” and an average price target of $77.35.

CMS Energy Stock Down 2.1%

NYSE CMS opened at $69.18 on Friday. CMS Energy Corporation has a 1 year low of $62.28 and a 1 year high of $80.36. The stock has a market capitalization of $21.70 billion, a PE ratio of 24.71, a PEG ratio of 2.53 and a beta of 0.31. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.95 and a quick ratio of 0.67. The business’s 50-day moving average is $66.94 and its 200 day moving average is $72.50.

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

CMS Energy Announces Dividend

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

CMS Energy Profile

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.