Norges Bank Invests $171.80 Million in CMS Energy Co. (NYSE:CMS)

Norges Bank purchased a new stake in shares of CMS Energy Co. (NYSE:CMS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,577,617 shares of the utilities provider’s stock, valued at approximately $171,798,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NEOS Investment Management LLC boosted its position in CMS Energy by 30.3% in the 4th quarter. NEOS Investment Management LLC now owns 16,043 shares of the utilities provider’s stock valued at $1,069,000 after buying an additional 3,730 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in CMS Energy by 0.9% in the fourth quarter. UniSuper Management Pty Ltd now owns 802,890 shares of the utilities provider’s stock valued at $53,513,000 after purchasing an additional 7,544 shares during the last quarter. Moment Partners LLC acquired a new stake in CMS Energy during the 4th quarter valued at approximately $324,000. Elo Mutual Pension Insurance Co increased its holdings in CMS Energy by 19.9% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 31,793 shares of the utilities provider’s stock worth $2,119,000 after purchasing an additional 5,266 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of CMS Energy by 10.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478,444 shares of the utilities provider’s stock valued at $31,869,000 after purchasing an additional 46,269 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CMS. Guggenheim reiterated a “neutral” rating and set a $69.00 target price on shares of CMS Energy in a research note on Friday, February 7th. StockNews.com raised shares of CMS Energy from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th. Barclays raised shares of CMS Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $75.00 in a research report on Thursday, February 20th. Scotiabank boosted their price objective on CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, UBS Group increased their target price on CMS Energy from $77.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.36.

CMS Energy Price Performance

Shares of NYSE CMS opened at $74.18 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.79 and a quick ratio of 0.57. The firm has a market capitalization of $22.16 billion, a PE ratio of 22.34, a P/E/G ratio of 2.56 and a beta of 0.35. CMS Energy Co. has a 1-year low of $56.61 and a 1-year high of $75.06. The business’s fifty day moving average price is $70.47 and its two-hundred day moving average price is $69.27.

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

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were given a $0.5425 dividend. This is a boost from CMS Energy’s previous quarterly dividend of $0.52. This represents a $2.17 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, February 14th. CMS Energy’s dividend payout ratio (DPR) is currently 65.36%.

Insider Buying and Selling at CMS Energy

In other news, CAO Scott B. Mcintosh sold 6,700 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $69.76, for a total transaction of $467,392.00. Following the transaction, the chief accounting officer now directly owns 21,643 shares of the company’s stock, valued at approximately $1,509,815.68. This trade represents a 23.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Wright sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $69.84, for a total transaction of $174,600.00. Following the sale, the director now directly owns 38,790 shares of the company’s stock, valued at approximately $2,709,093.60. This represents a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,200 shares of company stock valued at $789,532 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

CMS Energy Company 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.