State of Michigan Retirement System Sells 300 Shares of CMS Energy Co. (NYSE:CMS)

State of Michigan Retirement System trimmed its holdings in shares of CMS Energy Co. (NYSE:CMS) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,099 shares of the utilities provider’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in CMS Energy were worth $5,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMS. Jones Financial Companies Lllp grew its position in shares of CMS Energy by 129.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,404 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 792 shares during the period. Smartleaf Asset Management LLC lifted its position in CMS Energy by 10.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 12,426 shares of the utilities provider’s stock valued at $828,000 after purchasing an additional 1,166 shares in the last quarter. SVB Wealth LLC purchased a new position in CMS Energy during the fourth quarter valued at $366,000. Private Trust Co. NA grew its holdings in CMS Energy by 30.4% during the fourth quarter. Private Trust Co. NA now owns 1,281 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 299 shares during the period. Finally, First American Bank increased its position in CMS Energy by 2.1% in the fourth quarter. First American Bank now owns 79,851 shares of the utilities provider’s stock worth $5,322,000 after buying an additional 1,673 shares in the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CMS. Morgan Stanley lowered their price objective on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Guggenheim reiterated a “neutral” rating and issued a $69.00 price target on shares of CMS Energy in a research report on Friday, February 7th. Barclays upgraded shares of CMS Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $68.00 to $75.00 in a research report on Thursday, February 20th. Scotiabank lifted their target price on shares of CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Finally, StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.42.

CMS Energy Trading Down 1.1 %

Shares of CMS stock opened at $71.58 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. CMS Energy Co. has a 12-month low of $56.61 and a 12-month high of $75.06. The stock’s 50-day moving average price is $68.34 and its 200-day moving average price is $68.68.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. CMS Energy had a return on equity of 12.02% and a net margin of 13.35%. Equities research analysts predict that CMS Energy Co. will post 3.59 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were given a dividend of $0.5425 per share. The ex-dividend date was Friday, February 14th. This represents a $2.17 annualized dividend and a yield of 3.03%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.52. CMS Energy’s dividend payout ratio (DPR) is 65.36%.

Insiders Place Their Bets

In other news, CAO Scott B. Mcintosh sold 6,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $69.76, for a total value of $467,392.00. Following the completion of the sale, the chief accounting officer now directly owns 21,643 shares of the company’s stock, valued at $1,509,815.68. This trade represents a 23.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $73.77, for a total value of $147,540.00. Following the transaction, the senior vice president now directly owns 71,931 shares in the company, valued at approximately $5,306,349.87. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,950 shares of company stock valued at $2,817,160 in the last three months. Corporate insiders own 0.40% of the company’s stock.

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.