First Citizens Bank & Trust Co. Lowers Stock Holdings in CMS Energy Co. (NYSE:CMS)

First Citizens Bank & Trust Co. reduced its position in shares of CMS Energy Co. (NYSE:CMS) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,936 shares of the utilities provider’s stock after selling 1,761 shares during the period. First Citizens Bank & Trust Co.’s holdings in CMS Energy were worth $3,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of CMS Energy by 10.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock worth $537,503,000 after buying an additional 719,093 shares during the period. Geode Capital Management LLC raised its stake in shares of CMS Energy by 1.4% in the third quarter. Geode Capital Management LLC now owns 7,509,770 shares of the utilities provider’s stock valued at $528,713,000 after acquiring an additional 105,062 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CMS Energy by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,842 shares of the utilities provider’s stock valued at $152,267,000 after acquiring an additional 18,403 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CMS Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,822,389 shares of the utilities provider’s stock valued at $128,715,000 after acquiring an additional 25,196 shares in the last quarter. Finally, Brookfield Corp ON raised its stake in shares of CMS Energy by 0.6% in the third quarter. Brookfield Corp ON now owns 1,199,811 shares of the utilities provider’s stock valued at $84,743,000 after acquiring an additional 7,142 shares in the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

CMS Energy Stock Performance

NYSE CMS opened at $65.75 on Friday. CMS Energy Co. has a 52-week low of $55.10 and a 52-week high of $72.40. The business’s 50-day moving average price is $67.33 and its 200 day moving average price is $67.43. The firm has a market cap of $19.64 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.46 and a beta of 0.42. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current year.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $68.17, for a total transaction of $136,340.00. Following the sale, the senior vice president now owns 64,771 shares of the company’s stock, valued at $4,415,439.07. The trade was a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Scott B. Mcintosh sold 936 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $68.50, for a total value of $64,116.00. Following the sale, the chief accounting officer now directly owns 24,417 shares in the company, valued at $1,672,564.50. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,686 shares of company stock valued at $2,228,084 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CMS has been the topic of several analyst reports. KeyCorp increased their price objective on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $76.00 to $72.00 in a research note on Tuesday, October 15th. Morgan Stanley cut their price target on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. BMO Capital Markets cut their price target on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Guggenheim cut CMS Energy from a “buy” rating to a “neutral” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.00.

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.