Gradient Investments LLC lessened its stake in CMS Energy Co. (NYSE:CMS – Get Rating) by 98.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,223 shares of the utilities provider’s stock after selling 205,666 shares during the quarter. Gradient Investments LLC’s holdings in CMS Energy were worth $155,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of CMS Energy by 4.1% in the 4th quarter. BlackRock Inc. now owns 26,291,806 shares of the utilities provider’s stock valued at $1,710,283,000 after buying an additional 1,029,930 shares during the period. State Street Corp boosted its stake in shares of CMS Energy by 11.0% in the 1st quarter. State Street Corp now owns 16,331,901 shares of the utilities provider’s stock valued at $1,142,253,000 after buying an additional 1,613,255 shares during the period. JPMorgan Chase & Co. raised its position in shares of CMS Energy by 1.3% during the 1st quarter. JPMorgan Chase & Co. now owns 16,190,977 shares of the utilities provider’s stock worth $1,132,395,000 after acquiring an additional 214,355 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CMS Energy by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,465,158 shares of the utilities provider’s stock worth $354,614,000 after acquiring an additional 119,992 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of CMS Energy by 0.3% during the 1st quarter. Invesco Ltd. now owns 4,172,552 shares of the utilities provider’s stock worth $291,830,000 after acquiring an additional 13,528 shares in the last quarter. Hedge funds and other institutional investors own 92.62% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on CMS. Mizuho cut their target price on CMS Energy from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. BMO Capital Markets cut their target price on CMS Energy from $80.00 to $71.00 and set an “outperform” rating on the stock in a research report on Monday, June 27th. Morgan Stanley raised their target price on CMS Energy from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 23rd. Finally, Barclays cut their target price on CMS Energy from $76.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, CMS Energy presently has a consensus rating of “Hold” and an average price target of $71.00.
CMS Energy Trading Up 0.3 %
CMS opened at $66.84 on Friday. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 2.88 and a beta of 0.28. CMS Energy Co. has a 52 week low of $58.51 and a 52 week high of $73.76. The business’s 50 day moving average is $68.00 and its two-hundred day moving average is $68.26. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 1.62.
CMS Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Tuesday, September 6th will be paid a $4.50 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.46. This represents a $18.00 annualized dividend and a dividend yield of 26.93%. The ex-dividend date of this dividend is Friday, September 2nd. CMS Energy’s dividend payout ratio (DPR) is 40.44%.
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.
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