Sumitomo Mitsui DS Asset Management Company Ltd Sells 642 Shares of CMS Energy Co. (NYSE:CMS)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in CMS Energy Co. (NYSE:CMS) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,912 shares of the utilities provider’s stock after selling 642 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CMS Energy were worth $2,376,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in CMS Energy by 7.3% in the 3rd quarter. Invesco Ltd. now owns 4,663,108 shares of the utilities provider’s stock valued at $247,658,000 after acquiring an additional 317,682 shares in the last quarter. abrdn plc lifted its position in CMS Energy by 1.9% in the 3rd quarter. abrdn plc now owns 3,144,280 shares of the utilities provider’s stock valued at $166,993,000 after acquiring an additional 58,405 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in CMS Energy by 23.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,054,137 shares of the utilities provider’s stock valued at $162,205,000 after acquiring an additional 570,800 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in CMS Energy by 6.1% in the 3rd quarter. Ceredex Value Advisors LLC now owns 1,847,108 shares of the utilities provider’s stock valued at $98,100,000 after acquiring an additional 106,172 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in CMS Energy by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 1,833,803 shares of the utilities provider’s stock valued at $97,393,000 after acquiring an additional 27,644 shares in the last quarter. 93.57% of the stock is owned by institutional investors.

Insider Activity at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the transaction, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMS. 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 research report on Friday, February 2nd. Royal Bank of Canada cut their price target on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. JPMorgan Chase & Co. boosted their price target on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Wolfe Research raised shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research report on Tuesday, January 16th. Finally, BMO Capital Markets boosted their price target on shares of CMS Energy from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

CMS Energy Stock Down 0.2 %

Shares of CMS stock opened at $59.90 on Wednesday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98. The firm’s 50-day moving average is $58.57 and its 200-day moving average is $57.34. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.31 and a beta of 0.38. CMS Energy Co. has a 52-week low of $49.87 and a 52-week high of $63.76.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the business earned $0.60 EPS. CMS Energy’s quarterly revenue was down 14.4% on a year-over-year basis. Sell-side analysts predict that CMS Energy Co. will post 3.33 EPS for the current year.

CMS Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.515 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a yield of 3.44%. CMS Energy’s dividend payout ratio (DPR) is currently 68.44%.

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.