State Treasurer State of Michigan lessened its stake in CMS Energy Co. (NYSE:CMS) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,635 shares of the utilities provider’s stock after selling 2,900 shares during the period. State Treasurer State of Michigan’s holdings in CMS Energy were worth $3,909,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMS. Capital International Investors raised its position in CMS Energy by 68.9% during the 3rd quarter. Capital International Investors now owns 9,853,468 shares of the utilities provider’s stock valued at $456,413,000 after purchasing an additional 4,018,068 shares during the last quarter. Janus Henderson Group PLC raised its position in CMS Energy by 3,063.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,302,969 shares of the utilities provider’s stock valued at $60,263,000 after purchasing an additional 1,261,775 shares during the last quarter. Brookfield Asset Management Inc. raised its position in CMS Energy by 25,046.4% during the 2nd quarter. Brookfield Asset Management Inc. now owns 894,959 shares of the utilities provider’s stock valued at $41,392,000 after purchasing an additional 891,400 shares during the last quarter. JPMorgan Chase & Co. raised its position in CMS Energy by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,476,208 shares of the utilities provider’s stock valued at $995,424,000 after purchasing an additional 694,563 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in CMS Energy by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 14,018,642 shares of the utilities provider’s stock valued at $649,344,000 after purchasing an additional 596,628 shares during the last quarter. 87.33% of the stock is owned by institutional investors.
Shares of CMS Energy Co. (NYSE:CMS) opened at $42.90 on Thursday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.94 and a quick ratio of 0.59. The firm has a market capitalization of $12,100.00, a P/E ratio of 22.23, a P/E/G ratio of 2.88 and a beta of 0.09. CMS Energy Co. has a 52 week low of $40.48 and a 52 week high of $50.85.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 16th will be paid a $0.3575 dividend. The ex-dividend date is Thursday, February 15th. This represents a $1.43 annualized dividend and a dividend yield of 3.33%. This is an increase from CMS Energy’s previous quarterly dividend of $0.33. CMS Energy’s dividend payout ratio is presently 68.91%.
In related news, insider David G. Mengebier sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $49.48, for a total value of $123,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.
A number of research analysts have weighed in on CMS shares. Wells Fargo & Co upgraded CMS Energy from a “market perform” rating to an “outperform” rating in a report on Monday, December 18th. Morgan Stanley reiterated an “equal weight” rating and set a $52.00 target price on shares of CMS Energy in a report on Wednesday, December 13th. KeyCorp reiterated a “buy” rating and set a $51.50 target price on shares of CMS Energy in a report on Friday, December 15th. Bank of America started coverage on CMS Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Zacks Investment Research upgraded CMS Energy from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CMS Energy presently has an average rating of “Buy” and an average target price of $48.41.
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CMS Energy Company Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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