Illinois Municipal Retirement Fund Boosts Holdings in CMS Energy Corporation (NYSE:CMS)

Illinois Municipal Retirement Fund lifted its stake in CMS Energy Corporation (NYSE:CMS) by 26.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 167,049 shares of the utilities provider’s stock after acquiring an additional 35,435 shares during the period. Illinois Municipal Retirement Fund’s holdings in CMS Energy were worth $12,547,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. New York Life Investment Management LLC grew its position in CMS Energy by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 39,997 shares of the utilities provider’s stock worth $2,666,000 after purchasing an additional 302 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its position in CMS Energy by 1.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 113,769 shares of the utilities provider’s stock worth $7,583,000 after purchasing an additional 1,900 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in CMS Energy during the 4th quarter worth $4,938,000. First American Bank grew its position in CMS Energy by 2.1% during the 4th quarter. First American Bank now owns 79,851 shares of the utilities provider’s stock worth $5,322,000 after purchasing an additional 1,673 shares during the last quarter. Finally, Private Trust Co. NA grew its position in CMS Energy by 30.4% during the 4th quarter. Private Trust Co. NA now owns 1,281 shares of the utilities provider’s stock worth $85,000 after purchasing an additional 299 shares during the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

CMS Energy Stock Down 0.2%

Shares of NYSE CMS opened at $69.03 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.06 and a debt-to-equity ratio of 1.87. CMS Energy Corporation has a 52 week low of $58.50 and a 52 week high of $76.45. The firm has a 50-day moving average price of $70.84 and a 200 day moving average price of $70.09. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 2.46 and a beta of 0.39.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.03). CMS Energy had a net margin of 13.10% and a return on equity of 12.06%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts anticipate that CMS Energy Corporation will post 3.59 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 9th were paid a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Friday, May 9th. CMS Energy’s dividend payout ratio (DPR) is 64.39%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley set a $71.00 price objective on shares of CMS Energy and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. BMO Capital Markets raised their price objective on shares of CMS Energy from $77.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Jefferies Financial Group raised their price objective on shares of CMS Energy from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Evercore ISI raised their target price on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, April 28th. Finally, Wall Street Zen cut shares of CMS Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, CMS Energy currently has an average rating of “Hold” and a consensus price target of $77.00.

Insider Activity at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,198 shares of CMS Energy stock in a transaction dated 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 transaction, the senior vice president now owns 69,571 shares in the company, valued at approximately $5,121,121.31. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

CMS Energy Company 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.