CMS Energy Corporation $CMS Stock Acquired by Alps Advisors Inc.

Key Points

• Alps Advisors increased its CMS Energy stake by 161% in the third quarter, to 99,914 shares worth about $6.3 million. Several other funds also added shares; institutions and hedge funds owned 93.57% of the stock.
• Analysts’ consensus rating was Hold, with a $77.35 average price target; seven analysts rated the shares Buy and eight rated them Hold.
• CMS Energy reported quarterly EPS of $1.44, above the $1.35 estimate, while revenue of $2.18 billion fell short of estimates. The company announced a quarterly dividend of $0.57 per share, equivalent to a 3.3% yield.

Alps Advisors Inc. increased its position in CMS Energy Corporation (NYSE:CMS - Free Report) by 161.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,914 shares of the utilities provider's stock after purchasing an additional 61,632 shares during the period. Alps Advisors Inc.'s holdings in CMS Energy were worth $6,303,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Argonautica Private Wealth Management Inc. raised its position in shares of CMS Energy by 498.3% during the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 31,036 shares of the utilities provider's stock valued at $1,958,000 after acquiring an additional 25,849 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in CMS Energy by 269.6% in the third quarter. Kestra Advisory Services LLC now owns 130,957 shares of the utilities provider's stock worth $8,261,000 after purchasing an additional 95,522 shares during the period. Quest 10 Wealth Builders Inc. boosted its holdings in CMS Energy by 71.5% in the third quarter. Quest 10 Wealth Builders Inc. now owns 806 shares of the utilities provider's stock worth $51,000 after purchasing an additional 336 shares during the period. Chicago Partners Investment Group LLC increased its stake in CMS Energy by 114.0% during the third quarter. Chicago Partners Investment Group LLC now owns 18,110 shares of the utilities provider's stock valued at $1,260,000 after purchasing an additional 9,647 shares during the last quarter. Finally, Jmac Enterprises LLC increased its stake in CMS Energy by 4.8% during the third quarter. Jmac Enterprises LLC now owns 10,900 shares of the utilities provider's stock valued at $688,000 after purchasing an additional 500 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CMS shares. Morgan Stanley reduced their price target on shares of CMS Energy from $77.00 to $73.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 21st. Wells Fargo & Company lowered their price objective on shares of CMS Energy from $79.00 to $73.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 28th. Capital One Financial set a $73.00 price objective on shares of CMS Energy in a research note on Tuesday, October 6th. Scotiabank reiterated a "sector outperform" rating and set a $78.00 price objective on shares of CMS Energy in a research note on Thursday, October 1st. Finally, Truist Financial cut their target price on shares of CMS Energy from $81.00 to $77.00 and set a "buy" rating on the stock in a report on Wednesday, October 14th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $77.35.

CMS Energy Price Performance

Shares of NYSE CMS opened at $69.18 on Monday. CMS Energy Corporation has a fifty-two week low of $62.28 and a fifty-two week high of $80.36. The firm's 50-day simple moving average is $66.94 and its 200 day simple moving average is $72.50. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 1.88. The stock has a market cap of $21.70 billion, a P/E ratio of 24.71, a P/E/G ratio of 2.53 and a beta of 0.31.

CMS Energy (NYSE:CMS - Get Free Report) last announced its earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.09. CMS Energy had a net margin of 9.72% and a return on equity of 12.28%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. CMS Energy's revenue was up 8.0% compared to the same quarter last year. Equities analysts expect that CMS Energy Corporation will post 3.87 EPS for the current year.

CMS Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be issued a $0.57 dividend. The ex-dividend date is Friday, November 6th. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. CMS Energy's dividend payout ratio (DPR) is 81.43%.

About CMS Energy

CMS Energy is a Michigan-based energy company and the parent of Consumers Energy, a regulated utility that provides electricity and natural gas to homes and businesses across Michigan's Lower Peninsula. Consumers Energy serves customers in all 68 counties in the peninsula.

Through Consumers Energy, the company generates, purchases, transmits and distributes electricity, and supplies natural gas. Its operations include maintaining utility infrastructure and developing energy resources, including renewable generation, to support the region's energy needs.

CMS Energy was formed as a holding company in 1987 and is headquartered in Jackson, Michigan.

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