Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of CMS Energy Corporation (NYSE:CMS – Free Report) by 4.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 706,974 shares of the utilities provider’s stock after selling 31,364 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CMS Energy were worth $54,847,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC boosted its stake in shares of CMS Energy by 84.4% during the 4th quarter. Sound Income Strategies LLC now owns 343 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 157 shares during the period. Elyxium Wealth LLC bought a new stake in CMS Energy in the 4th quarter valued at $29,000. DV Equities LLC bought a new stake in CMS Energy in the 4th quarter valued at $29,000. MidFirst Bank acquired a new stake in CMS Energy during the 4th quarter valued at $31,000. Finally, Quest 10 Wealth Builders Inc. lifted its holdings in CMS Energy by 653.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 467 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 405 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.
CMS Energy Stock Performance
CMS stock traded up $0.43 during trading hours on Friday, hitting $75.43. 2,283,746 shares of the stock were exchanged, compared to its average volume of 3,010,972. CMS Energy Corporation has a 12 month low of $68.64 and a 12 month high of $80.36. The company has a current ratio of 0.84, a quick ratio of 0.66 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $23.30 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.73 and a beta of 0.35. The company has a 50-day simple moving average of $74.12 and a two-hundred day simple moving average of $74.41.
CMS Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 8th were issued a $0.57 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.28 dividend on an annualized basis and a yield of 3.0%. CMS Energy’s payout ratio is currently 62.98%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on CMS. KeyCorp reissued an “overweight” rating and issued a $83.00 price objective on shares of CMS Energy in a research report on Monday, June 8th. Wells Fargo & Company set a $80.00 target price on shares of CMS Energy in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of CMS Energy from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 5th. Bank of America increased their price target on shares of CMS Energy from $82.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Barclays reduced their price objective on CMS Energy from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.17.
Get Our Latest Analysis on CMS Energy
Insider Transactions at CMS Energy
In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $74.31, for a total transaction of $222,930.00. Following the transaction, the senior vice president owned 67,111 shares in the company, valued at $4,987,018.41. This represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.
CMS Energy Company Profile
CMS Energy (NYSE: CMS) is an energy company based in Jackson, Michigan, whose principal business is the regulated utility operations of its subsidiary, Consumers Energy. The company is primarily focused on providing electric and natural gas service to customers in Michigan, operating the generation, transmission and distribution infrastructure necessary to deliver energy to residential, commercial and industrial customers. Headquartered in Jackson, CMS Energy conducts its core activities within the state and is regulated by state utility authorities.
Through Consumers Energy and related subsidiaries, CMS Energy develops, owns and operates a portfolio of generation assets and delivers a range of customer-facing services, including electricity and natural gas supply, grid management, energy efficiency programs and demand-response offerings.
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