Truist Financial Corp Buys 136,185 Shares of CMS Energy Corporation (NYSE:CMS)

Truist Financial Corp increased its holdings in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,757,747 shares of the utilities provider's stock after buying an additional 136,185 shares during the quarter. Truist Financial Corp owned 0.59% of CMS Energy worth $132,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CMS. Larson Financial Group LLC boosted its position in CMS Energy by 2,900.0% during the fourth quarter. Larson Financial Group LLC now owns 720 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 696 shares during the last quarter. Optiver Holding B.V. boosted its position in CMS Energy by 39.2% during the fourth quarter. Optiver Holding B.V. now owns 813 shares of the utilities provider's stock valued at $54,000 after purchasing an additional 229 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in CMS Energy during the fourth quarter valued at $61,000. Covestor Ltd boosted its position in CMS Energy by 51.9% during the fourth quarter. Covestor Ltd now owns 1,065 shares of the utilities provider's stock valued at $71,000 after purchasing an additional 364 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in CMS Energy during the first quarter valued at $72,000. Hedge funds and other institutional investors own 93.57% of the company's stock.

Insider Transactions at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 2,198 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $73.61, for a total transaction of $161,794.78. Following the transaction, the senior vice president directly owned 69,571 shares in the company, valued at $5,121,121.31. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.49% of the stock is owned by corporate insiders.

CMS Energy Stock Performance

Shares of NYSE CMS traded down $0.87 during trading hours on Monday, hitting $69.60. 2,990,947 shares of the company's stock were exchanged, compared to its average volume of 2,327,243. CMS Energy Corporation has a 1-year low of $58.50 and a 1-year high of $76.45. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.06 and a quick ratio of 0.84. The stock has a market capitalization of $20.82 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.51 and a beta of 0.38. The company's 50-day moving average price is $70.46 and its 200-day moving average price is $70.27.

CMS Energy (NYSE:CMS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The utilities provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.03). CMS Energy had a return on equity of 12.06% and a net margin of 13.10%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the firm posted $0.97 EPS. CMS Energy's revenue for the quarter was up 12.5% on a year-over-year basis. On average, sell-side analysts expect that CMS Energy Corporation will post 3.59 earnings per share for the current fiscal year.

CMS Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 9th were paid a dividend of $0.5425 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.17 annualized dividend and a yield of 3.12%. CMS Energy's dividend payout ratio is 64.39%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CMS shares. Scotiabank reissued an "outperform" rating and set a $81.00 price objective (up previously from $77.00) on shares of CMS Energy in a research report on Friday, April 25th. Wall Street Zen raised CMS Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company boosted their price target on CMS Energy from $78.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Evercore ISI boosted their price target on CMS Energy from $73.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group boosted their price target on CMS Energy from $77.00 to $83.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.00.

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.