Sumitomo Life Insurance Co. cut its stake in shares of CMS Energy Co. (NYSE:CMS) by 18.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,621 shares of the utilities provider’s stock after selling 10,142 shares during the period. Sumitomo Life Insurance Co.’s holdings in CMS Energy were worth $2,186,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its position in CMS Energy by 267.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,128 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 2,276 shares during the period. Piedmont Investment Advisors LLC purchased a new position in CMS Energy in the 2nd quarter valued at about $156,000. MAI Capital Management purchased a new position in CMS Energy in the 2nd quarter valued at about $229,000. Greenleaf Trust purchased a new position in CMS Energy in the 2nd quarter valued at about $229,000. Finally, FineMark National Bank & Trust purchased a new position in CMS Energy in the 2nd quarter valued at about $236,000. 89.94% of the stock is owned by hedge funds and other institutional investors.
CMS has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of CMS Energy from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. KeyCorp upped their price objective on shares of CMS Energy from $47.00 to $49.00 and gave the company a “$47.86” rating in a research report on Thursday, July 19th. Howard Weil reissued a “sector outperform” rating on shares of CMS Energy in a research report on Tuesday, July 24th. Barclays initiated coverage on shares of CMS Energy in a research report on Wednesday, August 15th. They issued an “equal weight” rating and a $51.00 price objective for the company. Finally, SunTrust Banks reissued a “hold” rating and issued a $50.00 price objective on shares of CMS Energy in a research report on Wednesday, September 5th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. CMS Energy currently has an average rating of “Hold” and an average price target of $51.40.
In related news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $48.77, for a total transaction of $48,770.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jon E. Barfield sold 2,861 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $48.45, for a total transaction of $138,615.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,861 shares of company stock worth $386,145. Company insiders own 0.65% of the company’s stock.
Shares of CMS Energy stock traded up $0.64 during trading on Friday, reaching $50.14. The company had a trading volume of 3,453,564 shares, compared to its average volume of 3,051,662. The firm has a market cap of $14.06 billion and a PE ratio of 23.11. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.47 and a current ratio of 0.69. CMS Energy Co. has a fifty-two week low of $40.48 and a fifty-two week high of $51.91.
CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, October 25th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.53 billion. CMS Energy had a net margin of 8.00% and a return on equity of 14.88%. During the same quarter in the prior year, the business posted $0.62 EPS. On average, equities analysts predict that CMS Energy Co. will post 2.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be paid a $0.3575 dividend. The ex-dividend date is Thursday, November 1st. This represents a $1.43 dividend on an annualized basis and a dividend yield of 2.85%. CMS Energy’s dividend payout ratio (DPR) is presently 65.90%.
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CMS Energy Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.
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