Lord Abbett & CO. LLC Grows Position in CMS Energy Corporation $CMS

Key Points

• Lord Abbett & CO. LLC significantly increased its stake in CMS Energy Corporation by 72.9%, acquiring 970,510 shares to bring its total holdings to about $172.9 million.
• Several analysts have raised their price targets for CMS Energy, with Wells Fargo setting a new target of $82.00 and affirming an "overweight" rating for the stock.
• CMS Energy announced a quarterly dividend of $0.5425 per share, reflecting an annualized yield of 3.0% and a payout ratio of 64.20%.

Lord Abbett & CO. LLC increased its stake in CMS Energy Corporation (NYSE:CMS - Free Report) by 72.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,302,338 shares of the utilities provider's stock after buying an additional 970,510 shares during the period. Lord Abbett & CO. LLC owned 0.77% of CMS Energy worth $172,929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of CMS Energy by 0.4% in the first quarter. Vanguard Group Inc. now owns 38,341,416 shares of the utilities provider's stock valued at $2,879,824,000 after purchasing an additional 166,328 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of CMS Energy by 32.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,256,949 shares of the utilities provider's stock worth $950,227,000 after buying an additional 3,486,074 shares in the last quarter. Northern Trust Corp increased its stake in shares of CMS Energy by 11.6% during the fourth quarter. Northern Trust Corp now owns 2,986,489 shares of the utilities provider's stock valued at $199,049,000 after buying an additional 311,489 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CMS Energy by 21.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,624,075 shares of the utilities provider's stock valued at $174,895,000 after acquiring an additional 468,233 shares in the last quarter. Finally, Perpetual Ltd lifted its stake in CMS Energy by 3.9% in the first quarter. Perpetual Ltd now owns 2,155,984 shares of the utilities provider's stock worth $161,936,000 after acquiring an additional 81,867 shares during the period. Institutional investors own 93.57% of the company's stock.

Insider Activity at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.62, for a total value of $147,240.00. Following the sale, the senior vice president owned 68,036 shares in the company, valued at $5,008,810.32. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is owned by company insiders.

CMS Energy Stock Performance

Shares of CMS traded up $0.5150 during trading hours on Tuesday, reaching $72.5450. 658,734 shares of the company traded hands, compared to its average volume of 2,471,597. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.93. The business has a fifty day moving average price of $71.26 and a 200-day moving average price of $71.50. CMS Energy Corporation has a 12-month low of $63.97 and a 12-month high of $76.45. The stock has a market capitalization of $21.71 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.69 and a beta of 0.36.

CMS Energy (NYSE:CMS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. CMS Energy had a return on equity of 12.07% and a net margin of 12.76%.The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The company's quarterly revenue was up 14.4% compared to the same quarter last year. CMS Energy has set its FY 2025 guidance at 3.540-3.600 EPS. Equities analysts anticipate that CMS Energy Corporation will post 3.59 EPS for the current fiscal year.

CMS Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, August 8th. CMS Energy's payout ratio is presently 64.20%.

Analysts Set New Price Targets

A number of brokerages recently commented on CMS. Wells Fargo & Company boosted their price objective on shares of CMS Energy from $78.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. BMO Capital Markets raised their price objective on CMS Energy from $77.00 to $79.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wolfe Research reiterated a "peer perform" rating on shares of CMS Energy in a research note on Monday, July 7th. Evercore ISI increased their price target on shares of CMS Energy from $73.00 to $76.00 and gave the company an "in-line" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group raised their price target on shares of CMS Energy from $77.00 to $83.00 and gave the company a "buy" rating in a report on Monday, April 21st. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $77.25.

About CMS Energy

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.